“Flights that normally cost $500 or $600 are $900 to $1,000 a ticket,” said Sylvania-based travel consultant Christian Box.
SYLVANIA, Ohio — If you’re still hoping to book a flight for spring break, get ready for high airfares.
Christian Box, Travel Advisor Central passageThe Sylvania chapter said those who haven’t started planning their spring break trips are in for a big surprise as prices for domestic and international travel have nearly doubled compared to what they’ve seen in years past.
“Flights that normally cost $500 or $600 are $900 to $1,000 a ticket,” Box said.
Eric Gordon, an associate professor at the University of Michigan’s Ross School of Business, said the reason is a simple economic concept: High demand for flights and fewer available planes means expensive tickets.
However, there are several factors, Gordon said.
“Partly because of the holdover (of the COVID-19 pandemic), partly because of labor shortages and partly because you make more money flying fewer airlines, each of which is full of people paying higher prices,” he said. he
Labor shortages are particularly affecting airlines.
“You get on a plane … you see pilots and flight attendants, but it takes a lot more people to get a plane in the air,” Gordon said. “The people who load baggage, the people who work at the gates, the people who work in maintenance and scheduling.”
Box said expensive airfares are causing travelers to rethink their plans.
“If our clients have their passports ready, we can give them those options and present them with something that will hopefully be easier for the budget to swallow,” she said.
High demand and low supply can lead to higher prices for products. But the opposite could cause prices to fall, Gordon said.
He said the rise and fall of airfares is a cycle, and costs will eventually come down, but it’s hard to predict when.
https://www.wtol.com/article/travel/why-are-airfare-costs-expensive-high-demand-low-supply/512-d6215812-8c8c-403e-b19d-bab23d833056
