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A travel class is a quality of accomodation on public transport. Travel classes are a form of price descrimination. Airlines traditionally have three travel classes:

• First class, the highest quality of accomodations available
• Business class, high quality, traditionally purchased by business travellers
• Economy class or tourist class, basic accomodation, traditionally purchased by leisure travellers

However, due to lack of demand, many airlines are now eliminating their first classes. Sometimes as a replacement, some airlines are creating premium economy classes to further price discriminate.

Booking codes

Within each travel class there are often different booking codes, each with different prices to further price discriminate. In an airline, these booking codes are typically as follows.

First class codes:

• A, F, P

Business class codes:

• C, J

Economy class codes:

• Full fare: Y
• Special or discount fares: M, B, H, K, Q, L, V

The hierarchical stucture of these booking codes (which one costs more than the other) varies between airlines.

All passengers within the same travel class receive the same quality of accomodation and may indeed sit next to each other. However, if they have different booking codes they may not receive the same quality or quantity of other services. For example, full fare economy class passengers (booking code Y) are usually able to make changes to their reservation, while discount economy class passengers in the lowest bookin code usually have tickets that are non-refundable, non-transferable (airline specific) and non-changeable.