IATA reports drop in demand for premium air travel
21.06.11
International air travel in first and business class has slumped because of Japan's nuclear crisis, weakening world trade and problems in the Middle East, airline body IATA said yesterday. It added that economy class travel rebounded in April, up 3 percent on the start of the year, but this rise could be short lived as rising fares as a result of high fuel costs weigh more on price-sensitive flights used by tourists and individual travellers.
In April the premium travel market was 1.3 percent down on the start of the year and was growing at only half the 5 - 6 percent annual rate it hit in the second half of 2010. IATA said that much of the weakness is due to the fall-out of the tsunami and ensuing nuclear crisis in Japan, and to political upheaval scaring off travel to the Middle East and North Africa. However, a spokesman added that: ‘Business confidence and world trade have also weakened. As a result, this softness in premium travel is expected to extend through the rest of the second quarter.’
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