Achieving economies of scale is a big part of the proposed American Express Global Business Travel acquisition of HRG. More influence on airline distribution evolution is a bonus. GBT also might gain pricing power on some client bids. Another big driver? Greater clout to generate more revenue from suppliers.

While that's always a motivator for TMCs to get bigger, is that all it is in this case? Or is this the kind of leverage that changes the nature of the . . .

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