Next time you're crammed in economy, dare to peek behind the partition and into the realm of first-class. What you see might surprise you... the number of international airline passengers travelling first class and business class in March this year has declined the most since 2003, according to a trade group for international airlines. So upgrading to first-class will give you even more legroom these days!

The International Air Transport Association (IATA) said the decline reflected a sharp slowdown in financial sector activity and a weakening US economy. The loss of these high-paying fares is a blow to airlines already battling high fuel prices.

IATA said in a report that global first class and business class traffic in March fell 3.9 per cent from the same month last year, the biggest monthly decline since 2003.

Within Europe, first class and business class traffic for IATA airlines was down 17.1 per cent in March and down 10.7 per cent for the year through March. But air travel markets in the Middle East, Far East and Africa showed much stronger premium traffic.

Seven small airlines have filed for bankruptcy or stopped operating in the past five months and, if oil prices stay at current levels or go higher, some major US airlines also face the prospect of seeking bankruptcy protection, experts say.