By Sarah Schlichter

updated 4:51 p.m. ET March 7, 2008

When searching for airfare to Europe, most of us don't even consider shelling out for first or business class — especially since the weak U.S. dollar has made European travel more expensive than ever. But before you book that same old economy-class ticket, have you considered all your options?

You may not know that many airlines now offer a "premium economy" class, where some of the perks of business class — such as expedited check-in and extra legroom — are available at a much more affordable price. For passengers considering making the leap to the real thing, several all-business airlines have emerged to compete price-wise with the luxury cabins on traditional airlines.

Of course, if budget is your bottom line, you should be aware of the handful of long-haul discount airlines offering low fares that could save you money on transatlantic flights.

Below, we outline three alternatives to regular economy-class flights to Europe, including the costs, pros and cons of each — so whether you're looking for cheap fares or an escape from the coach-class cattle car, you can find the right transatlantic option for you.

All-business airlines
These relatively new airlines focus exclusively on business-class service for transatlantic travelers. They offer the amenities you'd expect from business class, including extra space onboard and highly personalized service, for less than the business-class service on most major airlines.

Who: L'Avion, Silverjet and Eos.

Cities served: Silverjet flies between Newark and London's Luton airport, while Eos serves New York (JFK) and London Stansted. (Eos has announced that additional flights from Newark are on in the way in May 2008, and service to Paris is also being considered for later in the year.) L'Avion flies between Newark and Paris (Orly).

Cost: Fares on these airlines can be quite lofty, but in other cases they may not be that much higher than economy prices. For example, we recently found round-trip prices from Newark to Paris starting at just $1,429 (including taxes and fees) on L'Avion.

Fares to London on Silverjet and Eos tend to run a bit higher than the Paris fares on L'Avion. Most of the dates we tried on Silverjet yielded round-trip fares between $2,150 and $2,400 with taxes, while Eos gave us prices between $2,350 and $3,710.

Pros
All three airlines provide business-class perks such as personalized service, extra space onboard, and multi-course meals accompanied by fine wines.

Both Eos and Silverjet have seats that convert to flat beds, while L'Avion's seats offer a much deeper degree of recline than the standard economy-class seat.

Passengers on Eos and Silverjet are whisked through a fast-track security line and led directly to exclusive lounges where they can relax, eat and check their e-mail before flights.

These airlines are well worth checking if you're planning to travel over a major holiday, when high demand for leisure travel drives up economy-class prices. Since business travelers are less likely to fly during the holidays, you could find a great deal on a luxurious flight.

Cons
So far, these airlines serve only one U.S. city (New York) and two European ones (London and Paris). If you're traveling to or from somewhere else, you'll have to make your own arrangements to reach these airlines' gateway cities.

Schedules are fairly limited, with each airline offering only one or two departures from each city per day.

Luxury comes at a price. While there are occasionally deals to be found, in most cases fares on the all-business airlines are significantly higher than the average economy-class ticket.

There is some concern about the financial health of these airlines. A fourth business-only airline, MAXjet, went out of business at the end of 2007, and some industry insiders speculate that Silverjet and Eos may not be doing well either. If you're feeling unsure, you may wish to purchase travel insurance for your trip.

MORE FROM TRAVEL

Travel Section Front

How to raise a globe-trotter Top celebrity vineyards America's best beer festivals For China’s new Midases, gold tableware Easy, breezy travel beauty tips Send us photos of your favorite place! Couple accused of beach sex: Let us go home Singapore salon has $1,000-per-lb. teas '100 Things' co-author dies at 47 High-end pet lodges popular with owners Travel Section Front   Add Travel headlines to your news reader: