NEWS: Airline Ticket Prices Are DROPPING — Here’s Why!

We have a bit of good news to bring anyone looking to travel more in 2024!

Orlando International Airport

Historically, booking flights can be one of the most challenging and expensive parts of a vacation. Whether you’re flying to Disney World or elsewhere, you may often feel that you’re timing needs to be just right to get the best deals on airfare. Luckily, it seems that the rest of 2024 is looking optimistic for the prices of those seats!

According to an article by the Orlando Sentinel, airfares are down 6% this year based on year-over-year prices. They’re even down a whole 15% since a decade ago. It is even likely that prices could continue to drop! This is great news for us travel enthusiasts.

Orlando Airport

But why are airline ticket prices dropping when we’ve come to expect them to be high and expensive? Well, there are several reasons that this may be the case. First off, the current airlines that are operating are adding more flights and routes! Since the pandemic, demand for flying and travel has significantly increased, even going higher than pre-pandemic numbers.

Southwest Airlines

2023 saw a huge surge in travel both domestically and internationally. And because of the high numbers in 2023, airlines have increased their number of available seats by 5.5 million in just the first half of 2024 than there were in the first half of 2023! More available seats means the airlines can lower the prices.

©Norse Airlines

Not only are more routes and flights being added, but so are budget airlines! New budget airlines are offering lower airfares causing the industry to have to compete. Norse Airlines, a new Norwegian budget airline, has started operating in the U.S. and operates 13 routes. Similarly, Spirit, Frontier, and Southwest Airlines also offer lower fares and direct flights. The competition has been good for all fares.

Frontier Airlines plane

Revenge travel, the increased travel after the pandemic shutdown, also had an impact on airfare prices. The drop in prices may be a way for pricing to find an equilibrium after the pandemic stopped a majority of international flights. So we may be seeing prices that are just bringing balance to the higher prices seen during COVID.

A busy MCO

Even with the prices coming down, we suggest not waiting until the last minute to book your flights. You’re more likely to find better pricing if you book at least 2 months in advance and even further out if you’re looking at international travel. Keep checking the airlines’ websites to grab the best deals!

And keep following AllEars for more travel news!