Rejoice! Airfare Prices Are At An All-Time Low
What a time to be alive!
The U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) reports that the average price of a domestic plane ticket was $361 during the first quarter of the year. That figure represents a 7.8 percent dip from its $392 price tag last year. It’s also the lowest price ticket average since 2010, reports Travel Pulse.
Although this is not a surprise to industry experts, it is for American travelers. The fourth quarter of 2014 reached an unbelievable average inflation price of $398 and since then it has been on vast decline because travelers didn’t respond well to it. The BTS shared since the decline of that inflation, airports with 100,000 domestic passengers or less booked trips with the average ticket price being $376, whereas airports with 1 to 1.5 million domestics trips had ticket sales with an average price of $328— a record low. Airports that have travel traffic with 2 million or more passengers had an average fare of $351.
The BTS believes the changes in ticket prices is a response to United and Delta Airlines who earlier this year announced that they would be planning to increase their price tickets. When that wasn’t well received, both airlines lowered their prices in order to gain back trust and revenue.
With these record low prices, where will you be jetting off too?