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FCM: ‘Steady’ Q1 Booking Volume Amid Strong Pricing

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Business travel demand has had “gradual, consistent growth” in the first quarter as pricing remains elevated across several categories, according to FCM Consulting’s Global Quarterly Trend Report, released Thursday.

The report, based on FCM’s corporate booking data in the first quarter, showed global economy airfares in January were up $45, or 11 percent, compared with pre-pandemic levels in January 2019, and business class tickets were up $224, or 12 percent, over the same period. In North America, that increase was 15 percent for economy fares and 9 percent from business class fares.

Even as fares remain comparatively high, there are signs of moderation. Compared with January 2021, for example, global economy ticket prices were down 16 percent, according to FCM.

Year-over-year comparisons for airfares were not provided in the report.

In lodging, rate performance was mixed across global regions in the first quarter, FCM reported. The $244 average room rate in North America for the quarter was the highest of global regions reported, and the rate was up $5 year over year. Rates in Latin America increased $12 year over year to $140 during the quarter, and rates in Asia were up $2 to $174.

Rates in the rest of the regions were down year over year in the quarter, including a $17 drop to $197 in the Middle East and Africa, a $10 drop to $169 in Europe and a $9 drop to $154 in Australia and New Zealand.

Car rental rates on a global level, meanwhile, were down $22 year over year to an average daily rate of $51. Suppliers are cutting rates to stimulate demand, according to FCM.

The report noted booking volume in the first volume was “steady,” and “we’re looking forward to seeing the business travel momentum carry through into the rest of the year,” Ashley Gutermuth, Head of FCM Consulting for the Americas, said in a statement. “Given the increased demand and positive economic outlook, it’s been an encouraging sign to see companies start to increase their corporate travel budgets and further embrace the return to the air.”

FCM highlighted slight changes in traveler behavior over the past year in the report. Advanced booking has increased by 1.5 days year over year to 23.3 days in the first quarter. Average rip length also has increased by 0.3 days to 4.4 days, according to the report.



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Global air passenger traffic continues to rise, outpacing capacity

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But North America sees lagging demand growth in latest Iata figures



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CTO Chairman calls for preparedness and solidarity during hurricane season

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CTO Chairman Kenneth Bryan calls for vigilance and solidarity among Caribbean nations during the hurricane season, emphasizing preparation, swift recovery, and international support for resilience against climate change impacts.

GEORGE TOWN, CAYMAN ISLANDS – Chairman of the Caribbean Tourism Organization (CTO), Kenneth Bryan, has issued a strong call to all Caribbean people to continue exercising vigilance during this hurricane season by preparing for storms, while also being ready to respond and recover swiftly.

“Even as we protect life and property here in the western Caribbean, we stand in solidarity with the people of St. Vincent and the islands of the Grenadines who have been severely impacted by Hurricane Beryl,” said Bryan, Minister of Tourism and Ports of the Cayman Islands. “Their pain is our pain, and their struggles are felt across our entire region,” said the CTO Chairman, who noted that “when one member of our Caribbean family is affected, we all feel the impact. But together, we must unite and support each other through these challenging times”.

The CTO is committed to working closely with relief organizations to ensure a coordinated and effective response to hurricane impacts.

“We recognize the critical importance of preparedness. As hurricanes become more frequent and intense due to climate change, we urge all residents and businesses to take necessary precautions. Secure your homes, stock up on essential supplies, and have a clear plan in place. At the same time, we must be ready to support our neighbors and contribute to swift recovery efforts,” Chairman Bryan emphasized.

“Climate change poses a significant threat to our region, and we must be proactive in our response. This hurricane season, let us demonstrate the strength of our Caribbean spirit by preparing diligently and standing in solidarity. Our collective efforts will make a difference and ensure that we emerge stronger and more resilient,” Chairman Bryan added.

Chairman Bryan also called on the international community to assist the region with rebuilding infrastructure, restoring essential services, and helping communities get back on their feet. “We contribute the least to and suffer the most from the changing climate, so we need the global community to help provide resources for improved building standards, better communication systems, and more resilient infrastructure to mitigate future hurricane impacts.”


Vicky Karantzavelou

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor’s degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.





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American Increases Investment in ZeroAvia

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American Airlines has agreed to purchase 100 hydrogen-electric engines from ZeroAvia intended to power regional jet aircraft, the carrier announced Tuesday. 

American also has increased its investment in the “clean aviation” company, in which it first invested in 2022. Details of ZeroAvia’s Series C financing round were not disclosed.

ZeroAvia is developing hydrogen-electric engines for commercial aircraft, with the potential for “close to zero inflight emissions.” The company is flight testing a prototype for a 20-seat plane, and has designed an engine for larger aircraft, such as the Bombardier CRJ700, which American operates on certain regional routes, according to American.



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