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Monday, August 25, 2008

American Express Business Travel Monitor: Data show how much fares have risen in 12 months

Anyone who flies knows that fares, pushed up by struggling airlines trying to cope with higher fuel costs, have risen substantially in recent months. This morning, American Express Co.'s Business Travel Monitor was released, providing a part of the picture of just how much domestic and international ticket prices have increased over the last 12 months. The data is based on actual fares paid by client companies of the largest travel-management company. The second quarter "marked a seven-year high in the average fare paid by business travelers," Amex said. "Oil prices, capacity constraints and ticketing restrictions drove up air fare 10 percent, year-over-year."

 According to the Amex data, a year ago the average one-way fare paid was $236, and in the 2008 second quarter it had risen to $260. Interestingly, the averages actually declined slightly from $236 between last July 1 and March 31, '08, before shooting up in the second quarter. On its clients' international itineraries, the average fare was 11 percent higher than it was a year ago, finishing at $1,980 each way, compared with $1,788 in the second-quarter of 2007. The international data include business-class fares.     
Posted by Tom BELDEN @ 4:29 PM  Permalink | Post a comment
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About Tom Belden
Tom Belden has been reporting about Philadelphia International Airport and other air travel subjects for more than 20 years, writing columns for The Inquirer's Travel and Business sections. His reporting (with colleague Craig McCoy) on baggage handling problems in Philadelphia have been credited with helping to improve the system. His previous blog was called Road Warrior. He can reached at tbelden@phillynews.com.
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