Prudence Lui, Hong Kong (2008-03-13)

ACCORDING to American Express (Amex) Business Travels Asia Pacific Business Travel Monitor, business travellers will have to bear rising air fares on top of some softening of the global economy,

Air fares across the region continued their ..." />
 
Monday . June 17 . 2019
         
 
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Amex survey warns of higher air fares
 
Prudence Lui, Hong Kong (2008-03-13)

ACCORDING to American Express (Amex) Business Travel's Asia Pacific Business Travel Monitor, business travellers will have to bear rising air fares on top of some softening of the global economy,

Air fares across the region continued their upward trend with a one per cent increase in the last quarter of 2007, but this was slightly lower than the three per cent increase recorded in the third quarter.

The sharpest rise in the last quarter was in fares to the Americas, which were up three per cent, and domestic fares across Asia-Pacific, which were up two per cent.

Intra-Asia-Pacific fares remained flat, and fares to Europe increased by one per cent.

Year-on-year Asia-Pacific published fares rose six per cent overall. Domestic fares rose four per cent as did intra-Asia-Pacific and fares to Europe. Fares to the Americas rose 11 per cent.

Amex Business Travel head of advisory services for Japan and Asia-Pacific, Mr Kurt Knackstedt, said: “The first quarter in 2008 will likely give us a better indication of whether or not the economic conditions in the US will have had an impact on fares across Asia-Pacific.

“In either case, we aren't expecting much movement downwards and businesses will have to remain vigilant about adhering to existing deals, be aggressive in pursuing new corporate rates and work with their travel management company to gain better insight into these trends.

“We are not expecting a slow down in business travel in Asia-Pacific despite the softening global economy. In contrast to five years ago, the economies in this region continue to show strong growth indications. The conditions for travel suppliers should therefore remain favourable and we expect them to keep pricing aggressively.”

 
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