Budget flights - this year is more profitable

Traveling by plane is not only comfortable, but also very profitable! After all, prices will remain at the same level as in the first half of 2024. Instead, the price increase is expected in the spring, when customers book their spring and summer vacations.

This is evidenced by the results of Hooper's analysis. Read on to find out whether airfares will rise this year.

According to Hooper, the lowest prices will be in January this year. And in the spring, they are expected to rise in price.

"We expect domestic airfares to fall below 2023 levels and pre-pandemic levels within the next 6 months. Prices will rise by 3% in December as travelers book last-minute trips, and in January they will fall by 11%. January will be the cheapest month of the year to book travel until the fall season in September and October, so it's a great time for travelers to take advantage of the low prices. Prices will rise in late spring," Hooper's report says.

Why domestic flight prices will be lower

The decline in domestic airfares was due to the fact that in 2023, domestic airline capacity increased by at least 5% compared to 2019. In November, 6% more seats were used than in 2019, while TSA screened a record daily number of passengers. In addition to increased capacity, airlines are seeing relief in jet fuel as prices have fallen by 8% year-on-year.

Prices for other destinations

Meanwhile, airfares from the U.S. to other countries remain high compared to pre-docking times, but they are much better compared to last year. Airfares to Mexico and Central America fell by 10%, while prices to the Antilles fell by 3%.

Fares to Oceania, one of the most expensive on the market, have fallen by 22% compared to last year, an average of $400. For those travelers thinking about traveling to Europe, prices remain high at $717 per ticket, up 5% from last year and 9% from 2019.