CWT and GBTA unveil global travel airfare trends

CWT and the Global Business Travel Association (GBTA), in their Global Travel Forecast, reported (31-Jul-2019) the following global air pricing trends for 2019:

• Asia Pacific: The shutdown of Jet Airways created a gap in the market and fare increases. Due to other airlines adding capacity, fares began to normalise. Air transport fares increased 1.3% year-on-year;
• Europe, Middle East and Africa: Istanbul's new airport is predicted to change flows between Europe and Asia, providing an alternative stopover point for flights to China and Eastern Asia. Air transport fares decreased 0.2% in Eastern Europe, increased 0.6% in Western Europe and increased 2.2% in the Middle East and Africa;
• Latin America: Due to long distances, a growing middle class and low market penetration "there are many opportunities", which airlines are utilising. Due to LCCs gaining a "significant share in Brazil, Mexico and Colombia", air travel fares decreased 1.6%;
• North America: Prices are predicted to rise due to "strong economies of the US and Canada", with airlines considering ancillary fees "as a way to stay competitive". Air transport fares increased 2.3%. [more - original PR]