Measure by ASKs or Seats?

As most legacy airlines have reported their first-quarter 2025 results, there is some confusion about how any slowdown in the global economy is affecting passenger demand for air travel.

Listening to some airlines, the US domestic market has declined, while international demand remains stable. Some European airlines have noted a softening in the transatlantic market and prices, as we’ve seen in some cases, have fallen. However, bookings from some markets to the USA have…