International Air Transport Association said global premium airline traffic in April dropped 22 percent

The versus a year earlier, the largest fall-off in first- and business-class volumes reported during the current string of 11 consecutive monthly declines. Considering an estimated 5 percent negative impact from the timing of Easter, IATA noted a month-to-month improvement versus the 19 percent decline experienced in April. "It is too soon to say whether April marked a turning point in the current down cycle of air travel," according to IATA. "Anecdotal reports for May suggest renewed weakness in some markets." The association also reported a decline in average premium fares "over 20 percent."