High airfares are weighing on Thanksgiving travel plans this year
Summary
Higher airline fares are leading some Americans to reconsider Thanksgiving travel. Cirium data show average holiday fares rose 31% in August from a year earlier, while bookings fell 1.6%.Key Facts
- Cirium reported that average Thanksgiving airfares were up 31% in August compared with the same period last year.
- Bookings for the Thanksgiving travel period fell 1.6%, according to Cirium.
- Bookings dropped 24.6% for Newark, 15.3% for Seattle, and 13.2% for Miami.
- Bookings also fell 12.6% for Dallas, 11.6% for Denver, and 11.7% for San Francisco.
- The article says rising jet fuel costs linked to the war in Iran have increased airline operating expenses.
- Airlines have raised fares, added passenger surcharges, and cut routes to offset higher costs.
- Jet fuel is airlines’ second-largest expense after payroll, which has also risen following labor contract negotiations.
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