First-class air fare increases steadily across Asia Pacific: survey

Mumbai, Apr 10 (UNI) The latest American Express Airfare Index has revealed a steady and upward trend in air fares for Asia Pacific region since the past three years. However, airfares across all classes in the region have remained generally stable for the three months ending January this year.

The only class to undergo change during the quarter from India, was the first class, which rose 0.3 per cent. Year on year (yoy), there was increase across first, business, full-economy and discount-economy of 3.2, 2.6, 3.8 and 3.8 per cent's respectively.

Whereas, there has been a steady decline in excursion fares, both for peak and off-season rates over the last three years, said a release issued here today.

Australia recorded the most significant change for the quarter, where first class and business class fares increased 0.9 per cent and 0.5 per cent respectively, while discount-economy and lowest off-season excursion fares fell 1.7 per cent and 0.6 per cent.

There was some shift in domestic fares during the quarter with discount-economy fares down 3.6 per cent, while lowest peak-season and off-season excursion dropped 1.2 per cent, while business and full-economy remained unchanged.

However, the overall indices for Asia-Pacific increased steadily for the first and business class over the three year period, witnessing 8.3 and 9.5 per cent, growth respectively for the period ending Q1 06.

The full-economy and discount-economy airfare indices increased 6.2 and 6.4 per cent respectively for the same period. Whereas, the leisure travel economy categories showed considerably slower growth rate, with the lowest peak season excursion and lowest off-season excursion indices showing 1.4 and 1.7 per cent growth respectively over the three years.

The Index provides quarterly benchmarking data on trends in corporate travel costs, based on a survey of 924 published airfares making it the most comprehensive airfare survey conducted in the Asia Pacific region. American Express has developed the Index for companies to benchmark against the average published airfare market, to identify and understand airline trends, and plan accordingly.

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