Those travelers who are planning to fly somewhere over the upcoming holiday season can expect to pay more for their airfare than during this same time frame last year. Experts are also predicting a higher volume of travelers over the Thanksgiving holiday than has been seen in recent years.
A recent study by Priceline indicates that the national average Thanksgiving airfare is $383, making this year one of the most expensive years during the last 8 years. On average, travelers this year can expect an increase of 17% to 19% over last years fares.
One key factor in the increase of rates may be due to reductions in seating capacity, which is down 10% from 2008. With airlines having fewer seats to fill, they are increasing ticket prices to make up the difference. As the demand continues to increase for seats during this busy time, fares will continue to go up.
The U.S Bureau of Transportation Statistics reports that the nation’s top airlines are reporting more than 85% of all seats as filled, which is the highest percentage in the last ten years. With approximately over 40 million Americans expected to fly during this holiday season, airlines will continue to book flights to full capacity. This will result in fewer deals available for last minute travelers, and fewer options for everyone. Travelers who have not already booked flights may find their options limited when it comes to arrival and departure times, and their ticket prices significantly higher than what they expected.