Top-Class Plane Bookings Drop
GENEVA ~ Business- and first-class passenger bookings on airplanes dropped further in January as the economic crisis weighed the sector down, industry association IATA said this week.
The International Air Transport Association (IATA) said the number travelling in business or first class fell by 16.7 percent in January compared to the same month a year ago, after a 13.3-percent such drop in December.
“There is some evidence of passengers trading down from premium to economy seats, particularly in Europe,” it said in a statement.
The declines were sharpest in Asia, where bookings in these classes fell 23 percent and in Europe, where they declined 22 percent, it said.
Including all classes of seat, the decline was less weak: 5.9 percent in January compared to a 6.1-percent fall in December, compared to the corresponding months a year ago.
“With average fares and fuel surcharges now falling significantly we estimate that revenues from premium passengers were down by at least a quarter in January, wreaking significant damage to network airline yields and profitability.”Filed under: Travel & Culture