Flights in 2024 may become cheaper
A new analysis by discount airfare booking site Going.com found that airfares have fallen below pre-pandemic prices, and are down 24 percent from the peak of airfares in May 2022.
The company provided evidence of lower international fares, such as flights to Paris for $387 and to New Zealand for $686 roundtrip, Yahoo writes.
"2023 was a return to normal. The peak in airfares in May 2022 has disappeared," said Katie Nastro of Going .com. "Looking ahead, we don't expect any major fluctuations in demand outside of typical peak seasons like summer or winter holidays, as we've seen over the past 18 months when pent-up travel demand following the pandemic has driven prices up.
Naylor analyzed the average airfare and tracked a downward trend for 13 of the last 18 months, and prices are currently down 12 percent compared to the same period last year.
The reasons for the decline in airfares are fewer people traveling for leisure and a lack of business travel.
