One in five executives are now choosing to fly economy class on long haul journeys, while one in six have switched to low-cost airlines for short haul flights, according to research by marketing research group Saville Rossiter-Base.
In addition, 25% of corporate executives are thinking of switching to using budget carriers.
Kay Rossiter-Base of Saville Rossiter-Base said: ‘Many of the most frequent business travellers have switched from premium travel to economy class or to low-cost airlines as a result of budget cuts and changes in corporate policies.’
The move to cheaper airfares appears to be just one of a number of cost cutting measures designed to reduce business travel expenses. In April, a survey by Barclays found that over half of business leaders were choosing to stay in budget hotels.
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