American Express Global Business Travel (Amex GBT) has predicted in its annual forecast of air fare movements on key business travel routes, Air Monitor 2023 that “airfares on key corporate travel routes will rise by as much as 25 per cent in 2023 in the wake of high fuel prices, a stronger U.S. dollar and labour and aircraft shortages”.
“Europe-North America routes are expected to see modest rises of 3.7 per cent, while intra-European flights could see stronger price rises (6 per cent in the business cabin, 5.5 per cent in economy) as airline capacity recovery lags behind the resurgence of demand. North American domestic fares are expected to see moderate rises (3.4
per cent business, 2.9 per cent economy) as more capacity comes online in 2023,” Amex GBT said.
