Airlines 'milking' business travellers

THE big airlines are cranking up first-class and business-class fares in an attempt to offset the collapse in revenues in the wake of the 11 September attacks on the US.

A survey of European air fares in the aftermath of the September atrocities has found some transatlantic air fares in premium-priced cabins have risen by as much as 6%, putting £200 on a business-class ticket to New York.

American Express, the financial services group that monitors fares, says business travellers are effectively a captive market.

The survey found business-class tickets on the Heathrow to New York route went up to £3,780 in October, 5.5% more than the average in the third quarter of this year.

BA has reported a 36% slump in business-class travellers and is among airlines attempting to make network capacity deals.