Airlines target the world’s wealthiest travellers

Well, let's shift focus to the energy market now and rising fuel costs and pressure on airline margins are pushing carriers to target wealthier passengers. Air France is investing 1 billion euros to upgrade its premium experience from private airport transfers and exclusive lounges to private suites and Michelin-starred cuisine and improved Wi-Fi. Its La Première first-class service also offers dedicated airport entrances, discreet security checks and access to lounges with spa facilities. The highest expression of travel is not only travelling from A to B, it's really an end-to-end journey. That includes a grand experience with a dedicated vestibule, private security, a dedicated lounge with a spa, with fine dining, with the possibility to rest or, of course, to relax before the flight. The shift towards luxury comes as demand growth across the aviation industry slows. According to the International Air Transport Association, global passenger traffic is expected to grow by just 2.1% in 2026. That compares with 5.3% last year. Air France says its combined first and business class sector grew by 28.1% in 2025 and 26% in 2024. Economy class, revenue stagnated. The first impact of this war is a huge increase of the cost of petrol. That definitely affects us. But despite this complicated context, we want to maintain our strategy to move up market. So we'll maintain investment for the customer. The figure I gave is $1 billion will be invested in the coming five years to continue to improve the product and service. Of course, in La Première, but as well in all the cadres. We invest as well $1 billion a year on renewal of the fleet, both for contributing to the decrease of the CO2 emission with new fleets that consume less petrol, but as well to offer the best standard of service in terms of product on board. Other carriers are also following a similar strategy. British Airways is revamping its Airbus A380 fleet to reduce the overall number of seats and focus more on premium customers, while Air India has introduced new cabins in some international routes. Even traditionally low-fare US airlines are moving up the market. The industry's premium push also reflects a wider economic divide, with wealthier consumers benefiting from rising asset values while others face higher living costs. Delta Airlines has also said it is targeting wealthier customers in what is described as a K-shaped economy, where some households gain wealth while others fall behind. However, premium travel carries a higher carbon footprint per passenger than economy travel, even if it generally remains below that of private jets.