U.S. Airfares Have Highest One-Month Increase in History
From the Financial Times this morning:
Airfares rose by 18.6 per cent in April from the previous month, the largest one-month increase in the history of the Consumer Price Index, according to the US Bureau of Labor Statistics.
On a yearly basis, the airline fares index was up 33.3 per cent, the largest one-year increase since 1980, though prices were still depressed at the same point in 2021 owing to the Covid-19 pandemic.
From the FT.
At issue is a supply-demand mismatch.
The average price across all US airlines for a domestic ticket booked one week before travel was $208 on May 9, up from $188 on May 2, according to US bank Raymond James.
Meanwhile, US carriers are flying 7 per cent fewer seats in the second quarter than during the same period in 2019, according to Raymond James analyst Savanthi Syth.
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