Premium international airfares have taken a beating in the economic crisis in the first quarter of 2009, with business travellers choosing to stay home instead.
According to figures from the International Air Transport Association, revenues in the Asia-Pacific region from corporate travellers fell by up to 40 percent.
First and business-class passenger flows in Asia fell 29.2 per compared to the previous March, while March premium traffic figures show that long-haul flights in the Asia-Pacific region were the weakest of any area – a significant drop compared with the global fall of 19.2 percent.
Airlines have taken a deep hit in the economic crisis, as businesses look to cut costs. Often the first go to from the budget is unnecessary expenses, including international travel flying business or first class.
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