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IATA’s Assessment Of Premium And Economy Travel In January 2015

World Travel – Airlines

Open Eyes Opinion {source: IATA]

IATA’s assessment of premium and economy travel in January 2015

Key points:

  • International air travel performance in January was in line with the recent trend, up 3.7% year-on-year;
  • Economy class travel drove the rise in volumes in January, up 3.8% year-on-year, helped by falling fares affecting this more price sensitive market;
  • The growth trend in premium international passenger travel has flattened over the past several months. Premium international air travel volumes have not increased since August 2014. There was a weak 2.6% rise in premium travel in January year-on-year;
  • This development reflects a lagged response to gradual slowdown in improvements in business confidence throughout H2 2014, with economic conditions in the Eurozone and China deteriorating;
  • The within Europe travel market was particularly weak in January, up just 0.1% for premium class, and 1.8% for economy – notably slower than the trend in 2014, which average close to 4% overall;
  • Longer-haul markets continue to perform relatively more strongly, including the Middle East to the Far East and Europe, which explains why international RPKs expanded at a much faster pace than passenger numbers;
  • Latest data show there are signs of a pick-up in business confidence in the Eurozone and US, which could ease some of the downward pressure on business-related international air travel.

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