»»Domestic and International Airfares Hit Record Levels in Q2 2008 - American Express Business Travel Reports
According to a report published today by American Express Business Travel, domestic and international airfares reached record levels in Q2 2008.
American Express’ quarterly AmEx Business Travel Monitor shows the average domestic airfare paid increased 10 percent year-over-year, as the second quarter of 2008 marked a seven-year high in the average airfare paid by business travelers.
| North America | |||||
| Quarter’Year | Q2′07 | Q3’07 | Q4’07 | Q1’08 | Q2’08 |
| Average Airfare Paid | $236 | $231 | $229 | $233 | $260 |
The international airfare reached highest level in nearly a decade.
The average international one-way airfare paid during the second quarter of 2008 set a new record, at its highest level since the inception of the Business Travel Monitor in 1999.
With an 11 percent increase in the second quarter of 2008, over the same period in 2007, international airfares reached nearly $2,000, with a final average of $1,980.
| International | |||||
| Quarter’Year | Q2′07 | Q3′07 | Q4′07 | Q1′08 | Q2′08 |
| Average Fare Paid | $1,788 | $1,853 | $1,957 | $1,911 | $1,980 |
The report also shows more business travelers choose coach. The percentage of international business class tickets purchased was at the lowest level since the third quarter of 2004 at 49 percent. Increases in the percentage of tickets purchased in other classes of service show that companies are employing strategies to encourage travelers to trade down to other classes of service. (source)
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