NZ air fares drop in March to June
An NZPA report says a regular survey of air fares in the Asia-Pacific has shown that New Zealand recorded the biggest drop – 3 per cent – between March and June.
The Asia Pacific “business travel monitor” survey by American Express says that the sector of NZ aviation showing the biggest drop was in discount economy fares which fell by 12 per cent.
Despite this downward trend for the quarter, NZ air fares were still up 6 per cent over the same three months in 2006.
Over the region as a whole, air fares rose 2 per cent during the quarter, after being flat through the first three months of the year.
The growth was being driven by increased demand from both leisure and business travellers, as the region’s economy grew, according to Kurt Knackstedt, head of American Express business travel advisory services.
Airlines in the region tended to be more profitable because of their better cost control than counterparts in Europe and North America.
Mr Knackstedt said in a statement fare changes varied between markets and market segments in the Asia Pacific region.
In China full and discount economy fares grew 18 per cent and 19 per cent respectively, as managers maximised revenue from popular routes to the Americas. In Hong Kong fares to the Americas rose 20 per cent for full first class, and 26 per cent for full business fares over the quarter.
Australia’s fares rose only 1 per cent for the quarter, but domestic full economy fares spiked by 9 per cent as both Qantas and Virgin Blue spent more at the top end of the market to differentiate their product from low-cost carriers.
Singapore was the only market to remain flat for the quarter when averaged across all fares, but full first class and full business class fares both rose by 4 per cent and full economy fares fell 15 per cent.
Report by The Mole
John Alwyn-Jones
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