Summer Domestic Airline Fares Remain Stable While Fares to Europe Drop
Planning to travel by air at some point this summer? The good news is that it won't cost you any more to fly than it did last year. Traveling to Europe? That ticket could cost you less than it did last summer.
Airlines Reporting Corp. (ARC) announced this week that after researching more than four million airline tickets purchased for travel between the upcoming Memorial and Labor Day holidays, average ticket prices paid, compared to 2014, ranged from flat for flights to U.S. domestic destinations to a reduction in ticket prices for flights to Europe from the U.S.
At the end of last month, domestic airfares averaged $453.87, a drop of 0.4 percent compared to $455.88 during the same period in 2014. Fares to European destinations fell 3 percent, averaging $1,618.64 this year vs. $1,669.36 in 2014.
After analyzing the 30 top domestic and European destinations by ticket volume, ARC found that the greatest drops in airfare costs from last year in each category were Kona, Hawaii (down 12.7 percent) and Belgrade, Serbia (down 24.3 percent).
The highest airfare increases in the domestic and European categories were New York City-JFK (up 9.3 percent) and Berlin-Tegel, Germany (up 10.2 percent).
"We're seeing fares fall to Europe from the U.S. this summer chiefly because there's been a 6 percent rise in available seats, and airlines are competing to fill those additional seats," said Chuck Thackston, managing director of enterprise information management at ARC. "When you add the dollar's strength versus the Euro, airlines want to capture this additional demand with lower overall fares."