Asian premium air travel demand soars. Europe/US struggling: IATA

Asia Pacific air travel volumes are booming again, particularly at the pointy end of the aircraft, thanks to a better than expected economic performance by many of the region's leading economies. China's first quarter GDP surged 11.9% in the first quarter, to record the fastest annual growth rate since 2007. Singapore's GDP soared 32.1% (yes, 32.1%) in the first quarter from the previous three months in annualised, adjusted terms, which exceeded even the most aggressive analyst forecasts by around 10 ppts. Premium demand in the region is closely following the expansion in economic activity, according to the latest report (for Feb-2010) from IATA.