Monday April 19, 2010
IATA reported that the number of premium passengers traveling in first and business class seats on international flights grew 5.9% in February compared to the same month in 2009, marking the third consecutive month of year-over-year increases. According to its latest Premium Traffic Monitor released last week, premium revenues climbed 9.4% in February "as rising average fares add[ed] to the growth in premium passenger numbers." Economy travel grew 6.9% and "the level of economy travel is close to recovering to early 2008 levels." However, premium travel is still down 16% compared to previous highs, IATA stated.
Nonetheless, the organization said the figures suggest a strong recovery and concerns that the industry was experiencing a permanent structural shift in business travel have not been realized. The decline in business travel was "cyclical" and it is recovering with the economic cycle. Strongest premium traffic growth performance in February occurred on routes between the Middle East and Far East, up 31.8% year-over-year. This was followed by Middle East-Southwest Pacific (up 28.6%), within the Far East (up 27.5%) and within South America (up 24.5%). The weakest market areas remain within Europe, across the North Atlantic, Pacific and in Africa, IATA said.
ATWOnline
IATA reported that the number of premium passengers traveling in first and business class seats on international flights grew 5.9% in February compared to the same month in 2009, marking the third consecutive month of year-over-year increases. According to its latest Premium Traffic Monitor released last week, premium revenues climbed 9.4% in February "as rising average fares add[ed] to the growth in premium passenger numbers." Economy travel grew 6.9% and "the level of economy travel is close to recovering to early 2008 levels." However, premium travel is still down 16% compared to previous highs, IATA stated.
Nonetheless, the organization said the figures suggest a strong recovery and concerns that the industry was experiencing a permanent structural shift in business travel have not been realized. The decline in business travel was "cyclical" and it is recovering with the economic cycle. Strongest premium traffic growth performance in February occurred on routes between the Middle East and Far East, up 31.8% year-over-year. This was followed by Middle East-Southwest Pacific (up 28.6%), within the Far East (up 27.5%) and within South America (up 24.5%). The weakest market areas remain within Europe, across the North Atlantic, Pacific and in Africa, IATA said.
ATWOnline