Upper Class fares on Virgin Atlantic are to fall by up to 40% and rumours are that British Airways could follow suit.
Virgin has cut Upper Class fares to cities including New York, Boston, Chicago, Washington DC, Miami, San Francisco, Los Angeles, Delhi, Mumbai, Shanghai, Tokyo, Dubai, Lagos and Nairobi as well as many Caribbean destinations.
The lower fares will be available from January 9 to January 27 2009 for travel on selected dates up to September 2009.
The price cut comes as many airlines are finding it more difficult to fill their upper class and business class seats.
BA has already revealed its first and business classes were 12.1% down in passenger numbers for December 2008.
Virgin Atlantic chief executive Steve Ridgway said: “As a leading global airline, we have a responsibility to help pump-prime the economy.
“These lower Upper Class fares will enable small and medium-sized businesses in particular to do deals and meet contacts around the world and help get the global economy moving again.”