American Express Global Business Travel is forecasting global air fare rises in 2023 due to inflation, rising fuel costs and capacity issues.
Some of the biggest increases are expected on routes between Europe and Asia.
The Air Monitor 2023 report, published by Amex GBT, said rising demand to those countries in the Asia Pacific that were slower to reopen after COVID could ‘put upwards pressure on prices’.
Overall, it has forecast a 12% rise in economy fares between Europe and Asia, with a 7.6% rise in business class flights.
Transatlantic fares are expected to rise by a more modest 3.7%, while intra-European flights are expected to go up 5.5% in economy and 6% in business class as airline capacity lags behind a resurgence in demand.
