America Department of Transportation (DOT) has released its results on airfare for the primary quarter of 2023, identifying that airfares have decreased by 4.1% in comparison with the ultimate quarter of 2022 within the post-pandemic travel boom.
The common domestic airfare around Thanksgiving and Christmas last 12 months sat at a median of $398, whereas for the primary three months of 2023, it had dropped to $382. Nevertheless, in the price of living crisis, this remains to be a far cry from what we were used to prior to the arrival of COVID-19, where through the pandemic, the typical airfare for Q3 was at a low $283, a 34.7% decrease from today’s results.
Photo: Los Angeles World Airports
Inflation
While it’s no secret that inflation has an important role within the rising cost of airfares, the worth of fuel and consumables all play their role in the worth of the ticket. As we have now seen across the nation, cabin and flight crew have continued to specific their displeasure on current work conditions and remuneration because the world grapples with live post-COVID.
While it’s frustrating that the airline ticket prices aren’t happening as many had initially hoped, there’s an inevitable likeliness that the costs may never return to what they were before the pandemic, at the least not for an additional 12 months or two. Some industry experts have deemed that the once super low-cost tickets we got used to could also be a thing of the past, but only time will tell.
Photo: Angel DiBilio/Shutterstock
The hopeful outlook for this 12 months was that airfare prices would decrease as airlines stabilized their operational shortfalls and recovered from the pandemic, especially because the demand wasn’t dying down anytime soon. But based on Capital A’s Chief Executive Officer Tony Fernandes, such hopes will likely be dashed for passengers.
Source: Department of Transportation