International fares highest in nine years
Bloomberg News
Published August 25, 2008 at 9:05 p.m.
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International airfares hit the highest levels in at least nine years in the second quarter as carriers raised prices to blunt record fuel costs, American Express Business Travel reported.
Average one-way tickets for overseas flights from North America rose 11 percent to $1,980 from a year earlier, the travel-services company said Monday. That's the top price since American Express began monitoring fares in 1999.
Corporate travelers are responding by paring their use of business-class fares, which fell to 49 percent of international flights, the least since 2004, American Express said.
One-way domestic ticket prices climbed 10 percent to $260 from 12 months earlier, the highest since 2001, according to the report.
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