GENEVA — In a good sign for yields and revenues for the world’s airlines, premium air travel within Europe and across the North Atlantic is up year-on-year (YOY) 6.6% and 6.3%, respectively, comparing September this year with last year’s.
However, premium travel only rose 2.9% YOY overall because of a weakness in the Far East. Major Asian economies have not been strong and this has diminished the market within the Far East.
Routes to the Far East for September, YOY, saw declines, with African traffic there shrinking by 16.8%, and the Middle East by 3.6%. The Far East routes, North and Mid Pacific saw a September YOY contraction of 1.2%, but the South Pacific region leapt 13.3%.
“The September rise is due to weakness in the year ago period, rather than growth over the period,” said IATA’s premium traffic monitor for September 2015.
Overall, growth in premium travel has been slower because business confidence has fallen due to weaker emerging markets. Worsening economic performance in the Far East has been putting downward pressure on demand, which is expected to remain fragile.