US Airfares Stay Elevated at $389 for Thanksgiving as Iran War, Fewer Discounters Lift Costs
Updated
Updated · The New York Times · Oct 24
US Airfares Stay Elevated at $389 for Thanksgiving as Iran War, Fewer Discounters Lift Costs
3 articles · Updated · The New York Times · Oct 24
Summary
$389 is the average U.S. round-trip Thanksgiving fare, up 39% from a year earlier, and Christmas flights are averaging $452, signaling little relief for travelers.
September airfares were already 22% above a year earlier after the Iran war pushed oil and jet fuel prices higher; fuel makes up roughly 25% to 30% of airline operating costs.
Airlines say fares may stay high even if fuel eases because affluent travelers are still paying up, while wages and other expenses remain elevated.
Spirit Airlines shut down this spring and other low-cost carriers are struggling, leaving less competition to pressure prices lower across the market.