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On a year-on-year basis, however, first class tariff in India increased 9.2 per cent, while business class tariff rose 6.3 per cent. Similarly, full economy tariff increased 1.9 per cent and discount economy ticket fares went up 0.1 per cent.
"On the demand side, we see companies expanding their sales and operations throughout the Asia-Pacific region, thereby consuming more units of business travel.
"On the supply side, we see cases of certain airlines introducing flat-bed seating, thereby reducing actual seating capacity on key routes, reducing the quantity of product on offer.
"Finally, on the cost side, we see elevated fuel prices coupled with fewer seats in the business class creating margin exposure. These are three independent forces putting upward pressure on air fares," said Kyle Davis, vice-president of corporate travel Asia-Pacific/Australia, American
Davis said air fares had not been impacted by the growing number of low-cost carriers in the region.
"First and business class fares do not appear to have been impacted by the growing number of low-cost carriers around the region. Any impact on airlines, as a result of low-cost carrier services, is generally felt in the full economy and restricted economy fares," according to the Amex air fare index.
"We expect these trends to continue in the longer term. Fares for all classes, especially first and business, are likely to continue increasing through to the end of the year," he said.
Over the same period, all first class air fares in the Asia-Pacific region increased 3.6 per cent, while business class fares increased 3.4 per cent.
Upward trend