A recently released IATA assessment of premium and economy travel for June reveals air traffic slowing over a confidence dip and other factors.
The report (here) shows the number of international air passengers slowed in June to 2.4%. Furthermore, since December overall travel has expanded by less than 1% on world trade growth declines. Some confidence in business class travel show the potential for a second half upswing though, as the rising trend in the share of premium since late-2012 remains intact. The graph below from IATA shows this relative stagnation fairly well.
Courtesy IATA
Long haul markets seem to be propping the market up a bit as of the first half, revenue share on premium travel has risen faster to nearly 29% comparatively. In contrast, markets connected with emerging markets seem to be getting weaker. Russia in the media mix and in conflict probably accounts for much of this. As the west sanctions take effect on travel to and from east Europe, so too Russian counter sanctions affect the overall passenger mix.
For more information on this IATA report please visit the link provided or contact IATA via @IATA or economics@iata.org