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Business class airfare is big business. Take a look at how it’s growing and how to save money on it.
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Sometimes, a face-to-face conversation is just better. Companies may understand this more than anyone else, so they spend loads of money every year sending employees to events and in-person meetings.
While the pandemic took the wind of business travel’s sails, it’s come back in full force recently — and airlines, hotels, and companies that issue travel credit cards are welcoming its return. Here are a few surprising statistics about business travel and how to save money when booking tickets.
1. Business class airfare typically costs $3,000 and up
Business class tickets often include luxury perks, including airport lounge access, free meals and drinks, premium seats, priority check-in, and more. But all those upgrades come at a steep price.
Typical business class tickets range between $3,000 to $5,000. Many people use travel credit cards to earn discounts or pay for airfare with airline miles to bring those costs down.
2. 75% of a flight’s profit can come from business class tickets
While companies are busy spending money on business travel, airlines are reaping the benefits. Business class tickets can account for up to three-quarters of a flight’s profits, according to data compiled by PwC.
That’s a huge percentage of a flight’s profits, and it’s even more impressive when you consider that just 12% of airline tickets are for business travelers.
3. Business class airfare may double your environmental impact
If you fly business class often, it may not be the best thing for the environment. Larger seats for business class result in fewer people overall on a plane, thus increasing the environmental impact of each flight.
The International Council on Clean Transportation says that travelers who opt for premium seating — first and business class seats — generate 2.6 to 4.3 times more carbon dioxide per kilometer than passengers in economy.
4. 71% of companies see a complete business travel rebound in 2024
Companies slowly brought back business travel following the pandemic, and many still aren’t sending employees on business trips as often as they used to.
However, recent data from Deloitte shows that 71% of U.S. companies expect to be back to full travel spending by the end of 2024.
5. 22% of business travel is done to build client relationships
Even with all the technology available to businesses and Zoom calls becoming a regular part of everyone’s work life, companies still emphasize building relationships in person.
Deloitte found that 22% of all business travel was done simply to build client relationships. The largest category, accounting for 25% of business travel, was for conferences, exhibits, and tradeshows.
Tips to save money on business class tickets
While business airfare isn’t likely to be cheap, there are a few tricks you can use to ensure you don’t overpay for your next ticket. Here are two tips to keep in mind:
Spend your miles: If you fly regularly, you’ve likely accumulated airline miles. Using these to lower the cost of your business class ticket is one of the best ways to save money. There are all kinds of excellent airline credit cards you can use to rack up miles.Upgrade your seat later: It’s possible to book your flight with an economy ticket and then upgrade to business class later. Some airlines will let you do this before the flight, and others may allow you to bid on a business class ticket later. Neither is guaranteed to get you a business class seat, but they can be an excellent way to save money.
And, of course, one of the best ways to save on airfare, whether you’re looking for business class perks or last-minute vacation deals, is to be flexible with your travel dates.
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