Flying costs have significantly decreased in recent weeks, but experts in the travel industry warn that these bargains won’t last forever. According to flight-booking app Hopper, the average round-trip airfare in the US reached a low of $257 in late July, which was even lower than prices during the same period in 2019. This represents a decrease of more than 14% from the average price of $300 during the Fourth of July weekend. Despite a surge in long-haul international travel, international airfare has also dropped.
Last year, the cost of flying in the US skyrocketed due to high demand, limited capacity, and rising fuel prices. However, capacity levels have now returned to pre-pandemic levels. Many travelers were surprised by the high prices they encountered when flying domestically last year, leading them to be more price-conscious in the future. Katy Nastro from Going, a cheap-flight alert service, shares that after experiencing sticker shock, travelers became more aware of the need to find affordable options.
Hayley Berg, the lead economist at Hopper, explains that domestic airfares usually decrease in August but begin to rise again as the holiday season approaches. While international airfares are expected to decrease with increased capacity, the absence of low-cost carriers, which were the first to suspend operations during the pandemic, has affected the availability of low prices. It is worth noting that the competition from these carriers played a significant role in keeping prices down before the pandemic.
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