Premium passengers are now flying economy

Premium passengers on international markets tumble in October

As previously forecast, a sharp fall in premium air travel was seen in October. According to IATA’s Premium Traffic Monitor for October, premium travel was just 0.1% higher in October year-on-year, compared with 6.7% in September. The association interprets this as being mostly due to business travellers shifting to cheaper seats; in October economy travel was up 4% on last year.
The share of premium paying passengers in total air travel fell to a level not far above the lows reached in 2009. Driving this weakness is a sharp fall in business confidence. Notable falls were seen on the previously strong pan-Europe and Europe-Far East route segments. Yet economy travel was strong on these routes.
[Lufthansa Senator Lounge, Frankfurt; courtesy Lufthansa]