Why Airline Tickets Went Up and What You Can Do About It

Why Airline Tickets Went Up and What You Can Do About It

It’s no secret that airline ticket prices have skyrocketed in recent years. Besides, with the pandemic affecting travel patterns, you’ve likely noticed that you’re paying more for flights than ever before. But what is causing these rising prices, and is there anything you can do about it?

The COVID-19 Effect

COVID-19 has been the driving force behind most of the changes in the airline industry. With a steep decline in air travel in early 2020, airlines were quick to reduce their capacity to maintain their profits. However, as vaccines became more widely available and restrictions relaxed, many travelers rushed to book flights, meaning that demand quickly outstripped supply.

Moreover, airlines have been forced to spend more on cleaning and sanitization to protect passengers from COVID-19, pushing up their operating costs and ultimately changing the pricing structure.

The Rising Cost of Fuel

Another factor that has contributed to the rise in airfare prices is the steadily increasing cost of fuel. The price of jet fuel has increased year on year, and airlines have had to take significant measures to hedge against this volatility.

Contracting and Consolidation

The airline industry has seen significant amounts of consolidation and contracting in recent years. This means that top airlines have more significant market control, leading to increased pricing power. Airlines have been reducing the number of flights, routes, and destinations to focus on higher-yield services, which tend to be pricier.

Moreover, there’s the airline industry’s increased focus on an ancillary revenue model, where passengers are charged for everything from baggage to priority boarding, ultimately leading to higher prices.

What Can You Do About It?

All of this might make airline travel seem like an expensive luxury, but that’s not the case. Here are a few tips on what you can do to mitigate the rising costs of air travel:

• Book in advance: Booking early can help you get lower fares, as airlines tend to offer discounts on flights booked many months in advance.
• Travel during off-peak periods: Flying on weekdays, or on less popular travel periods, such as the off-season, can help you pay less for a ticket.
• Be flexible with your itinerary: Consider alternative airports, routes, airlines, and destinations, as they can be significantly cheaper.
• Get loyalty points: If you fly regularly, join an airline’s loyalty program to accrue miles and other points that can help you save money on flights.
• Use comparison websites and cash-back programs: Utilizing comparison websites and cash-back programs can help you get great deals and save money.

Conclusion

Rising airline ticket prices are a reality, but there are various factors behind these hikes. However, by following the suggestions mentioned above, you can still travel at a reasonable cost. Booking in advance, traveling during off-peak periods, being flexible with itineraries, getting loyalty points, and using various comparison tools and programs can all help you save money on your next flight.

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