I'm looking at the ITA matrix and it is pricing out TATL fares in business for ~$2500 and claims it's business. I thought P was a premium economy fare, not business, but the route I was looking at doesn't have premium economy.

Is it just an ITA glitch? I was looking at YYC-AMS and ITA did AC to LHR and BA to AMS. BA is certainly a business code (J), but AC seemed suspicious in offering a P code on flight 850.