As per MarketWach.com – It seems that business traveling industry had dropped down in response to the economic status of the country. the Amex Airline Index was down 8% to 18.24 points with all of its 13 components trading in the red. The move lower coincided with broad weakness in the stock market.
According to the International Air Transport Association, business- and first-class ticket buyers fell 8% in September from a year ago, far deeper than the decline of 1.5% seen during August. The sharpest decline occurred in the Middle East with a 14% slump, while business travel of the North Atlantic slipped 2%.
Premium-priced fares are airlines’ red meat, often making up for below-cost sales to leisure and economy-class travelers. Fewer business travelers means carriers will have to fight harder for them, raising the potential for fare cuts and slower revenue growth.
Dallas-based Southwest said it could get 14 landing slots, enough for seven daily landings and departures. Southwest already flies to a smaller airport on nearby Long Island, N.Y., but a route into one of New York City’s largest, busiest airports is certain to raise its profile.
