Business Class Fares 'Drop in Second Quarter'
Transatlantic business-class fares fell by as much as a quarter following the Open Skies agreement, a new survey has revealed.
According to an American Express poll, flights between London and New York Newark dropped by 25 per cent in the second quarter of this year, with the London to JFK route also seeing an average decrease of 24 per cent, reports TravelMole.
By contrast, the findings show that the lowest restricted economy airfares on fuel intensive long-haul flights to Latin America and the Caribbean were up 29 per cent in the first quarter.
"While prices have fluctuated in economy class throughout Europe, fares in other classes, on average, have remained relatively stable," Joakim Johansson, vice-president of advisory services for Amex Business Travel, told the news provider.
He added that Open Skies has had a significant impact in driving down fares in business class.
Earlier in the week, the Telegraph reported that Willie Walsh, British Airways chief executive, fears more airlines will fail this year following the demise of Zoom Airlines, Silverjet, Eos and MAXjet earlier this year.
Travel Industry news posted on 18 September 2008
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