Travelers Face Big Jump in Airfares as Holidays Approach
Travel booking app Hopper says that holiday-season airfares will be 43% higher than last year. By comparison, consumer inflation was up 7.7% in October from a year before. So why are airfares rising more steeply?
For Context: The combination of rising energy costs, rebounding travel from the early COVID-19 pandemic, and an ongoing pilot shortage is causing problems for the airline industry. According to the International Air Transport Association (IATA), jet fuel prices in North America are up 48.5% from a year ago. According to TSA, 2,263,943 people crossed through checkpoints on Monday, a 12.6% jump from the same day last year and a 156% rise from the same day in 2020. And the Regional Airline Association (RAA) says that 76% of U.S. airports have had diminished or lost air service due to the pilot shortage.
Key Quotes: "More than half of Americans plan to travel for one or both of the holidays this year, with 70% of travelers planning to visit friends and family," according to Hopper's 2022 Holiday Travel Outlook.
How the Media Covered It: News sources across the spectrum covered the rising airfares similarly, with many highlighting the Hopper data and quoting voices who cited inflation and higher fuel prices as reasons for higher fares.
Featured Coverage of this Story
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