?The low point for air travel has not yet been reached since the economic environment is still deteriorating,? the association said, adding that industrial production and business confidence had fallen sharply in major economies across Asia, Europe and North America.

The steepest drops in premium travel, the airline organization said, came in the long-distance markets.

Business and first-class travel plunged 17.7 percent on trans-Pacific routes in November from a year earlier. Travel between Europe and Asia fell 9.9 percent during the month, and dropped 9 percent on trans-Atlantic routes.

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