Read us | Listen to us | Watch us | Join Live Events | Turn Off Ads | Live |

Click on your language to translate this article:

Afrikaans Afrikaans Albanian Albanian Amharic Amharic Arabic Arabic Armenian Armenian Azerbaijani Azerbaijani Basque Basque Belarusian Belarusian Bengali Bengali Bosnian Bosnian Bulgarian Bulgarian Catalan Catalan Cebuano Cebuano Chichewa Chichewa Chinese (Simplified) Chinese (Simplified) Chinese (Traditional) Chinese (Traditional) Corsican Corsican Croatian Croatian Czech Czech Danish Danish Dutch Dutch English English Esperanto Esperanto Estonian Estonian Filipino Filipino Finnish Finnish French French Frisian Frisian Galician Galician Georgian Georgian German German Greek Greek Gujarati Gujarati Haitian Creole Haitian Creole Hausa Hausa Hawaiian Hawaiian Hebrew Hebrew Hindi Hindi Hmong Hmong Hungarian Hungarian Icelandic Icelandic Igbo Igbo Indonesian Indonesian Irish Irish Italian Italian Japanese Japanese Javanese Javanese Kannada Kannada Kazakh Kazakh Khmer Khmer Korean Korean Kurdish (Kurmanji) Kurdish (Kurmanji) Kyrgyz Kyrgyz Lao Lao Latin Latin Latvian Latvian Lithuanian Lithuanian Luxembourgish Luxembourgish Macedonian Macedonian Malagasy Malagasy Malay Malay Malayalam Malayalam Maltese Maltese Maori Maori Marathi Marathi Mongolian Mongolian Myanmar (Burmese) Myanmar (Burmese) Nepali Nepali Norwegian Norwegian Pashto Pashto Persian Persian Polish Polish Portuguese Portuguese Punjabi Punjabi Romanian Romanian Russian Russian Samoan Samoan Scottish Gaelic Scottish Gaelic Serbian Serbian Sesotho Sesotho Shona Shona Sindhi Sindhi Sinhala Sinhala Slovak Slovak Slovenian Slovenian Somali Somali Spanish Spanish Sudanese Sudanese Swahili Swahili Swedish Swedish Tajik Tajik Tamil Tamil Telugu Telugu Thai Thai Turkish Turkish Ukrainian Ukrainian Urdu Urdu Uzbek Uzbek Vietnamese Vietnamese Welsh Welsh Xhosa Xhosa Yiddish Yiddish Yoruba Yoruba Zulu Zulu

Airlines filling fewer executive class seats: IATA

0c_169
0c_169
Written by editor

GENEVA – Airlines worldwide filled 21 percent fewer executive class seats in February than the same month a year ago as fewer people took long-haul business trips, industry group IATA said on Thursday

GENEVA – Airlines worldwide filled 21 percent fewer executive class seats in February than the same month a year ago as fewer people took long-haul business trips, industry group IATA said on Thursday.

The data suggest more trouble ahead for airlines, which have seen numbers of coveted premium class passengers shrink along with the economic downturn that has reduced demand for corporate travel.

Flights within Central America, between Africa and the Far East, and across the Pacific had the most vacant premium seats, according to the International Air Transport Association, which looks only at cross-border flights.

“Average travel distances are now getting shorter,” it said in its latest snapshot of the top-tier air segment.

IATA, which represents 230 carriers including British Airways, Cathay Pacific, United Airlines and Emirates, has said the airline industry would lose $2.5 billion in 2009 as a result of lower demand.

The industry lost $8.5 billion in 2008, pinched by high oil prices and the onset of the global credit and financial crisis.

IATA estimated that premium revenues fell about 30 percent in February as a result of the decline in high-end passenger traffic and aggressive fare reductions by airlines worldwide.

“This revenue stream is key for the profitability of most network airlines and so this reversal will be putting significant pressure on first quarter financial performance,” it said.