Flying first class puts you in a very distinguished league. It’s not just a way to get from point A to point B, it’s an experience like no other.
Think private suites with a queen size bed, living rooms for you and your guests, butlers to serve whatever you want or need, showers to freshen up and food that’s found on menus of famous Michelin star restaurants.
Sure, tickets for first class are not cheap at all, but do airlines actually make money from all this extravagance?
Oh, yes! Well, before the coronavirus lockdown most of the world in 2020. In 2019, CNBC did a full report on whether first class is still economically viable for airlines and found out that, even though the services offered can be extravagant and costly, so are the prices for first class tickets.
While you would think economy ticket sales should mean more money, it’s the exact opposite and it’s all due to timing. People who usually travel in economy class are leisure travellers and shop around for the best prices. In fact, they usually shop around months in advance, which also gives them better prices.
First class travellers have the money to book a last-minute flight and the airlines know that all too well. That’s why first-class tickets aren’t just expensive because of all the premium extras you receive, but also because last minute first class tickets are really expensive.
Even business class tickets are financially worth it for airlines because business travellers also tend to book tickets at the last minute.
So, while we’re in economy class and thinking we’re the ones paying for everything, we’re in fact just paying for what we get.
Watch the CNBC video below for more info on how airlines make money from first class.
Image credit: The Luxury Travel Expert