Many travelers are willing to pay a small premium for a little more comfort when traveling long distances, such as on a TransAtlantic or TransPacific route. But business class is just too expensive for most, so emergence of "premium economy" makes sense. For a marginally higher rate than economy class you get a wider seat, more leg room and other improved amenities.
Lufthansa has unveiled a new premium economy cabin in its new Boeing 747-8 aircraft that offers the following perks: 1) wider seats with an console/armrest between each seat. An extra 4" of lateral space. 2) 38" pitch 3) each seat has an electrical outlet, water bottle holder and foldout screen. There are other perks as well that will pamper somewhat without outright spoiling you.
More on that story here from the Frequent Business Traveler website.
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