![]() ![]() By comparison, the cancellation rate in 2019 was less than 2%, Kathleen Bangs, a spokesperson for FlightAware told Yahoo Money. carriers or 5,020 flights, were canceled and 25.5% - or 53,525 flights - were delayed. Long lines for security check-in have created even more havoc.Īccording to the flight-tracking company FlightAware, in the week ending July 31, 2.4% of flights by U.S. ![]() If you’ve flown this summer, you’ve probably hit a few glitches, or you know someone who has been stranded because of a canceled flight, or had a delayed departure which resulted in a missed connection. (Photo Credit: Getty Creative) Delays and cancellations aren’t going away This fall's 25% decline in domestic airfare prices is steeper than the usual 10% to 15% because high jet fuel prices and pent-up demand pushed this summer’s airfares to abnormal highs. Jet fuel prices typically account for anywhere from 15% to nearly a third (30%) of an airline’s operating expenses, according to Heritage. In late April, the price per gallon briefly topped $5 and has hovered around $4 per gallon most of the summer. Energy Information Administration ( EIA) data. Gulf Coast jet fuel is $3.34 per gallon, up from $1.88 a year ago, according to the U.S. “High jet fuel prices and pent-up demand coming out of two depressed summer seasons” pushed this summer’s airfares during the peak vacation months to abnormal highs.Īirfare for June and July averaged $357 per round-trip ticket versus $285 last year, according to Hopper data.Ĭurrently, U.S. “But this year’s decline from the highs of summer is steeper than usual,” Heritage said. Airfares typically fall between 10% and 15% as demand in late August through mid-October dips when kids go back to school, the weather gets cooler, and carriers are eager to boost travel. ![]() (Photo credit: Getty Creative) Why prices are droppingĪ dip in fall ticket prices is generally not noteworthy. Even as domestic airfares drop 25% this fall, airlines aren't expected to be back at full-capacity until summer 2023 which means fewer seats available. ![]()
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