Data collected by the travel management company shows that the problems currently facing the airline industry are not just operational or related only to staffing shortages.
They are also related to rising fuel prices and the global economic downturn, which are making flying more expensive, especially at busy airports.
TravelPerk reports that travel costs in the eastern United States “raised the most” in the second quarter and are highest both within the United States and to some degree among major international destinations.
During the period from April 1 to June 30 this year, New York City took three of the top spots for most expensive airfares.
Simply put, local and international flights to and from New York are more expensive than ever. On the busy New York-Paris route, fares have climbed by an astounding 62 percent, the highest increase on the list, while New York-Amsterdam fares are up a more tolerable 36 percent since the beginning of the year.
Flights within the United States from New York to San Francisco on the West Coast have “nearly doubled,”. In addition, low-cost air travel in Europe and elsewhere is under significant threat as long as the global economic crisis continues.
JC Taunay-Bucalo, chief revenue officer at TravelPerk, acknowledged that increased airfares in cities like New York are a direct result of “increased fuel costs, labor shortages, and disruptions in the global economy.” Taunay-Bucalo predicts that this rising trend will continue for the rest of the year.
Passengers who were unable to fly during the summer due to high costs could, on the other hand, feel a “sense of relief.” Despite the fluctuating costs, August and September might be the best months to travel, as airfares are expected to drop significantly, if only briefly, during these months before new price increases are expected in November and December.