2022 shaping up to be expensive year to fly, experts say
COLORADO SPRINGS, Colo. (KKTV) - Airfare is on the rise mainly due to demand being at --or near-- pre-pandemic levels, and more price hikes are on the horizon due to fuel costs.
Travel app Hopper reported to Bloomberg, domestic U.S. flights cost $300 on average right now-- a 36% cost increase since January.
Experts with AAA say, higher fares now are mainly due to increasing demand from spring break and people starting to book summer trips.
“Early indicators say that travel and tourism is going to come roaring back to life. For spring break alone, our bookings at AAA are up 19% over where they were in 2019, so pre-pandemic,” said Skyler McKinley with AAA Public Relations. “Folks have saved money on travel these past couple years, and they perceive it now as safe to travel and get back out there.”
Another price hike is around the corner. If you’ve noticed rising gas prices recently, that same principal is starting to impact the cost of plane tickets.
“Airplanes use crude oil for jet fuel, so the higher prices you pay at the pump, they pay at their proverbial pumps as well and pass those price increases onto the consumer,” McKinley said.
The U.S. and many other countries recently announced a stop on Russian oil imports amid the invasion of Ukraine. That is expected to make plane tickets more expensive for the rest of 2022.
Another factor leading to high airfares, is people are willing to pay the price.
“Folks want to travel again. Travel restrictions are being lifted. Across the globe, mask requirements are being dropped. Quarantine requirements are being dropped. Generally, the world is open to travel again, that has led to surging demand,” said McKinley.
Experts say, if you have a trip in mind for later this year, booking sooner rather than later is a good idea to avoid paying more.
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