A renewed interest in airline service quality has emerged as a result of ongoing growth of long haul services and competition for high yield passengers. This paper focuses on the importance of specific service elements for business class travelers. Customer value drivers are identified based on expert interviews and the existing literature. The customer value drivers are analyzed by applying choice based conjoint analysis and evaluated according to customer segments. The results show that emotional values such as the airline brand play a more important role than other factors such as price, product features, service quality, and journey time