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So, you want the luxury of business class or wider seats in coach but don’t feel paying the extra cash is worth it. Well, premium economy may be what you have been waiting for.

Recently American Airlines, British Airways, Delta Airlines, Virgin Atlantic and Cathay Pacific have changed their seating configurations to appease to those who aren’t so liberal with their spending when it comes to a business class fare. The new premium economy class seats feature more legroom and fewer amenities than that of what they would expect in business class at a cost lower than premium class and higher than coach.

The new seats are wider with more leg room and slightly recline. In addition they have tables for meals, cocktails, a foot rest and multi-port connectivity for those portable, personal devices. The seats also have more personal storage space. The reviews on the new seats have been positive from both business class travelers and economy class passengers who splurge for the semi-upgrade.

As the U.S economy continues to have its rough patches, passenger traffic is actually on the upswing as airlines have been reporting full flights throughout 2012. Recent data also shows the large airlines in the U.S made profits. With that increase, now is seems to be a great time for the airlines to offer a product like premium economy by eliminating the hefty price tag for premium business class while at the same time making the other option enticing to the folks who would normally book a standard economy fare.

2013 will certainly see an increase in competition between the legacy carriers through new product development and added amenities. As innovation and consumer tastes grow with the addition of an improving economy, it should come natural for the airlines to meet their passengers half way and build a loyal foundation from there.