Think back ten years ago, what were you doing? Did you travel on any airplanes in 1999? If you did, it cost you more then than it would cost you today. That’s the startling conclusion presented in a Chicago Tribune story about the falling price of air travel.
“Passengers paid 5.1 percent less to travel on average during the early months of this year than they did in the same period in 1999, when fares averaged $332.”
And despite lower fuel costs than last year at this time, airlines are taking a beating with fewer business class and cargo to make up for the low coach seats.
Tom Parsons, of BestFares.com suggests that booking on a Monday, Thursday or Friday gives the lowest fares. “Carriers are eager to fill seats as they navigate the steep drop in business travel since the Wall St. collapse in September 2008,” the article stated.
Airlines are going to battle this situation by grounding more planes, and cutting capacity whereever they can. This will help them sell the seats they do have at a reasonable profit.