IATA's assessment of premium and economy travel in November.
Key points:
- The number of premium passengers was 6.7% down on a year earlier in November, compared with a 9.3% decline the previous month;
- However, this apparent improvement was entirely due to the large fall in travel at this time last year;
- Month-to-month there was a small decline in premium travel;
- Numbers are still 5% up on their May low point but a long way to go as premium numbers over 20% lower than early 2008 levels;
- Economy and total passenger numbers showing positive year-on-year growth, at 3.5% and 2.4% respectively;
- Total passenger numbers still 6% below levels of early 2008 but have been rising at annualised rate of 6% in recent months;
- Large differences between geographical markets remain, reflecting very different economic conditions;
- Travel growth returning in developing economies such as Asia and South America, while large developed markets like transatlantic remain soft;
- Premium revenues remain weaker than premium passenger numbers, with revenues in November estimated at 12% down on the previous year;
- Looking ahead further travel growth is expected but large geographical differences likely to remain for some time.