Premium traffic was just 2.3% higher in October compared to a year ago, down on the September result of 3.8%
Economy class travel was up 4.4% in October year-on-year, slightly weaker than September’s 5.0% growth;
Hurricane Sandy was not the cause of weaker international travel in October, accounting for less than half a % point of the fall;
In fact premium travel has been slowing for some months, with annualized growth of just over 1% since Q2;
Within Europe and the North Atlantic have been the weaker markets, with year-to-date growth a fraction of 2011 performance;
By contrast, premium markets connecting the Far East, Africa and Middle East continue to expand robustly;
Looking ahead, the weak business environment is showing some signs of stabilizing as previous declines in business confidence reverse;
Consequently, downward pressure on growth in air travel, particularly in premium markets, is expected to stabilize over coming months.