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Airfares in India across domestic and international travel saw an overall price rise of 9 per cent quarter on quarter, with fares within India witnessing a considerable increase of 29 per cent.
Fares from India to the EMEA (Europe, the Middle East and Africa) region as well as Intra-Asia Pacific fares saw a 5 per cent increase, according to the latest American Express Business Travel Monitor, while fares to the Americas overall saw a marginal increase of 2 per cent.
The Monitor tracks a constant set of round trip airfares, all originating in the Asia Pacific region with destinations throughout the world. More than 370 city pairs are included.
Sandeep Shastri, Vice-President and General Manager, Global Business Travel, American Express India, said, “The increase in travel demands, steady increase in inflation, reduction in capacity and flight network disruptions leading to reduced supply in the market, are some of the contributing factors for the increase in airfares. The environment will continue to remain dynamic and to stabilise expenses on business travel, companies should look at cost-effective travel programmes and execute multi-year contracts with key domestic and international carriers.”
In the last quarter, India observed a strong 5 per cent rise in airfares for both Intra-Asia-Pacific and EMEA destinations, with a significant increase in business class airfare for intra Asia Pacific travel by 13 per cent in full fare and 9 per cent in discounted fare quarter on quarter.
Airfares from India to the US have seen a marginal increase of 2 per cent and travel to this region remained flat in full business airfare as well as in full economy segments with no increase in fares quarter on quarter.
Meanwhile, Asia-Pacific region witnessed an overall increase of 3 per cent in the airfares across all categories. Domestic airfares saw a 5 per cent price increase in the second quarter of 2012 compared with other tracked fares in the Asia Pacific region, according to the report.
India and Australia in particular have seen significant increases in domestic fares which have had an impact on overall fare performance for the region, said Carl Jones, Head of American Express Advisory Services for the Asia Pacific region.
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