Prices for US domestic flights have shot up by a staggering 47 % compared to January, meaning that prices are now 30% higher than they were at the same point in 2019.

According to a report by Adobe Analytics, May was the fourth consecutive month to see prices rise compared to pre-pandemic levels – prices were up by 5% in February, 20% in March, and 27% in April. When looking at the month-by-month figures, the price increase from April to May this year was 6.2%. This increase in price has, in turn, had an impact on the number of tickets being bought, with bookings down 2.3 % from April to May.

Lead analyst at Adobe Digital Insights, Vivek Pandya, commented,

“While some consumers have been able to stomach the higher fares, especially for those who delayed travel plans during the pandemic, the dip in bookings shows that some are rethinking their appetite for getting on a plane.”

Bookings are down, but spending is up

Although the number of tickets being bought has decreased, spending has increased as a result of the higher ticket prices. Consumers spent $8.3 billion on air travel in May this year, up 6.2 % from April.

So far this year, more than $37 billion has been spent on domestic flights in the US, almost double the figure for the first five months of last year.

Lead economist at travel app Hopper, Hayley Berg, says,

"Air fare is incredibly high for domestic travel this summer. We're seeing this week air fares averaging about $394 round-trip for domestic flight per ticket."

What is behind the increase in prices?

One of the main reasons for the increase in air fares is the price of jet fuel, which has soared over the past year. The rising cost of crude oil means that jet fuel prices have more than doubled since 2019.

Another reason is supply and demand. After two years of restrictions, demand for air travel has come back with a bang. However, there is currently less capacity than there was in 2019, and we have seen many airlines further scale back their operations this summer, primarily as a result of staff shortages.

Delta Air Lines has cut more than 100 flights a day from its schedule for the rest of the summer. American Airlines, United Airlines, and JetBlue, are among other US carriers to also reduce their summer flying programs.

US travel trends

According to Adobe Analytics, US destinations that have seen the biggest increases in domestic flight spending include Orlando, Austin, Honolulu, Seattle, and Kahului.

Internationally, United Airlines said on Monday that searches for international flights jumped by 7 % in the 72 hours following the news that international testing requirements would be removed.

Will higher fares put you off from flying this summer? Share your thoughts by commenting below.

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