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Airfares are more stable

The analysis of a specialized study center

Airline ticket prices in Europe and Asia are starting to stabilize. In some cases even to decrease. This is a trend that is independent of the physiological increase in fares that occurs during the Summer season, when the cost of tickets will rise in direct proportion to the increase in demand for travel by passengers in Summer 2024.

This is what emerges from the analysis of the "ForwardKeys" study center, specialized in the travel sector. In fact, experts observed that compared to 2023, rates during the first months of this year 2024 remained stable. The situation is more dramatic in the Asia-Pacific area, where prices fell by up to -16% in the January-April period. This will negatively impact airlines, which are struggling with rising costs and limited aircraft availability.

The stabilization of prices is a sign that the prolonged boom in travel demand in the post-pandemic period is waning. The reopening of the borders and the resumption of air connections after the various lockdowns, in fact, had led to a global imbalance between the supply of flights and the demand for travel, causing ticket prices to skyrocket.

Industry managers, investors and analysts agree that the trend of "travel at all costs" by passengers is coming to an end. Customers are becoming more price sensitive as they grapple with inflation that has pushed up the cost of living, as well as airline operating costs. In any case, according to the European Travel Commission, consumers will spend 742.8 billion euros in Europe in 2024 (+14.3% compared to 2023).

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AVIONEWS - World Aeronautical Press Agency