March 18- Recent figures from the International Air Transport Association (IATA) show that the Middle East has had some of the fastest recoveries in business and first class air travel as global trade has increased. Local carriers sold 25 percent more premium tickets to Australasia and the Far East in January than for the same period last year. Services in all other regions also increased, including Middle East flights and those to Europe and Africa. Premium travel around the world increased 5.7 percent in January after 0 percent growth in December, ending ten months of falling volumes.
Premium seats are a substantial revenue generator for airlines, accounting for about 10 percent of available seats and 30 percent of an airline’s turnover. IATA said the latest figures could help ease concerns of a double dip recession in the global economy. “It now looks as though the recession in premium travel has been cyclical rather than a permanent fall.”
