- Six months ended 30-Jun-2009:
IATA: “Notably the decline moderated in both premium and economy travel in June. The number of passengers travelling on economy tickets has shown signs of reaching a floor since March, but until June that seemed largely due to business travellers switching from premium to economy seats rather than any underlying stabilisation of demand. In June numbers travelling on economy tickets fell by 5.5% compared to a larger 7.6% decline in May. The decline in premium travel numbers also moderated, from 23.6% in May to 21.3% in June. However, this improvement was not seen consistently across all geographical markets. Some key Asian markets saw a further deterioration in June. Since economic conditions improved in many key Asian economies during the second quarter this further deterioration in air travel is likely due to continued concerns over influenza A (H1N1). But the issue now is that this stabilisation of passenger numbers is partly being achieved at the expense of much lower yields, as airlines seek to boost cash flow by making more cheaper seats available. Revenues from premium travel fell an estimated 33% in Q1 and 41% in Q2 and was still declining at a rate close to 40% in June,” IATA statement. Source: IATA, 18-Aug-2009.