.Posted by- Neelam Mathews
Aug 16, 2011
Aug 16, 2011
Key points of IATA's assessment of premium and economy travel in June:
· The number of passengers travelling on premium seats was up 6.4% over June last year compared to a 9.5% rise in May;
· Economy travel was up 4.8% over the same period, a lower rate than the 5.5% reported in May;
· While these segments are still showing trend growth, the pace is slowing;
· International trade and business confidence, both key drivers of business travel, are at levels consistent with premium travel growth of 3-4% a year;
· This points to the likelihood of slowing growth for premium travel over the second half of the year;
· But travel demand growth continues to diverge significantly from market area to market area;
· The important North Atlantic premium market has grown 11.1% in the first half of 2011 and routes between Europe and Asia at an even faster 12.1%. However premium travel between North America and Asia across the Pacific has only grown 3.1%, weakened by events in Japan;
· The outlook is for further growth in demand during the second half of the year, however forward looking indicators like business confidence suggest that, for premium travel, it will be at a slower pace than in the first half.
· Economy travel was up 4.8% over the same period, a lower rate than the 5.5% reported in May;
· While these segments are still showing trend growth, the pace is slowing;
· International trade and business confidence, both key drivers of business travel, are at levels consistent with premium travel growth of 3-4% a year;
· This points to the likelihood of slowing growth for premium travel over the second half of the year;
· But travel demand growth continues to diverge significantly from market area to market area;
· The important North Atlantic premium market has grown 11.1% in the first half of 2011 and routes between Europe and Asia at an even faster 12.1%. However premium travel between North America and Asia across the Pacific has only grown 3.1%, weakened by events in Japan;
· The outlook is for further growth in demand during the second half of the year, however forward looking indicators like business confidence suggest that, for premium travel, it will be at a slower pace than in the first half.
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