Originally Posted by number_6
For a while IATA tried to standardize fare codes and in the days of regulated fares picked P for "premium first" and J for "jazzed business", each of which were at a 10% price premium over regular F and C. So historically P/J indicated a superior product at a higher price than F/C. At some point this system fell apart, and fare codes are random (even F isn't F on all airlines!).
BTW, here is the complete list of IATA-recommended codes:
Code:
R Supersonic
P First Class Premium
F First Class
A First Class Discounted
J Business Class Premium
C Business Class
D Business Class Discounted
I Business Class Discounted
Z Business Class Discounted
W Economy/Coach Premium
S Economy/Coach
Y Economy/Coach
B Economy/Coach Discounted
H Economy/Coach Discounted
K Economy/Coach Discounted
L Economy/Coach Discounted
M Economy/Coach Discounted
N Economy/Coach Discounted
Q Economy/Coach Discounted
T Economy/Coach Discounted
V Economy/Coach Discounted
X Economy/Coach Discounted