Premium flying

Passenger air travel in premium cabin classes has recovered more than overall traffic, as tourists replace business travelers. As of February 2023, premium passenger traffic had recovered to 86% of 2019 levels. This is driven by a substantial recovery in North America and Europe, the two regions with the most passenger air traffic. With the reopening of China, air travel in Asia-Pacific is expected to recover as well, although several large multinationals have recently said the China recovery isn’t as sharp as expected. Globally, business travel has recovered less than leisure travel, but the tourist splurge after the easing of pandemic travel restrictions is making up for this now. 

Source: International Air Transport Association, Financial Times, 2023.