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Airlines Are Finally Cutting Ticket Prices
Posted
July 28, 2024
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July 28, 2024
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0:53Now PlayingQantas Airways Ltd., not known for usually offering big discounts, has cut prices more than six times this year. Virgin Australia is averaging at least one fare sale a month. Even Ryanair Holdings Plc, which practically invented affordable European air travel, says flights are getting cheaper.
Passengers around the world are winning some respite from the fare madness that followed the pandemic — and further price declines are coming.
It’s a partial re-balancing of power from the post-Covid demand surge that gave airlines almost free rein over fares. As travel restrictions lifted and the world rushed to reconnect, prices ballooned for the reduced number of seats that were available. Premium fares reached more than $20,000.
Now, falling fares reflect the growing number of international flights on offer, particularly in Asia and Europe, and a traveling public that is increasingly cost conscious.
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