The IATA (International Air Transport Association) has reported that first class and business air travel have fallen by 22% worldwide in the month of April. The report also shows that premium class travel revenue fell 44% in the same month.
On the other hand, the number of passengers traveling in the front cabin fell 19.9% compared to the previous year.
Premium class travel in North America fell 16.5% in April and 15.5% from the prior year.
“It is too early to say whether April has been a watershed moment in the current downward cycle of the airline industry, but there has been an increase in passenger numbers compared to the first quarter, albeit an improvement distorted by the Easter season ”, IATA pointed out.
"The number of passengers traveling with economy tickets was slightly positive in April, but 0.3% more than the same month last year cannot be considered positive after a 6.9% drop in the first quarter."
This year Easter was in April, but last year it was in March. Adjusting for this difference in statistics, the results suggest some improvement in April, but IATA notes that it is still too early to say that the downward cycle in the aviation sector has reached a turning point. On the other hand, the forecasts of the reports for May suggest that the weakness will continue in some markets.