A perfect storm of factors have sent ticket prices soaring – but there are ways they could be brought back down to earth
f you have booked a flight over the past six months, you are likely to have been taken aback by the breathtaking increase in air fares. While the anecdotal evidence of a price hike is clear,there was a lack of publicly available data – untilpublished its 2023 full-year results, which shine a light on what’s been happening to fares since Covid.
There is even greater imbalance between demand and supply playing out in overseas travel. The number of seats in the international Australian market currently remains around 30% below pre-Covid levels. Combined with international travel demand that has only just started to come into the market after the Covid lay off, this has generated a perfect storm.
Since April 2022, however, the recovery has stagnated. In the case of the international aviation market, the recovery started later in October 2021 and has been at a more moderate pace of just 12.4% a month.
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