Ticket prices to soar as fuel prices rise
These costs will be passed on to consumers, Willie Walsh, director general of the International Air Transport Association (IATA), said, reports BBC. “Flying will be more expensive for consumers, without doubt”, he said, adding that the “high price of oil” will be “reflected in higher ticket prices”.
Due to the rise in fuel prices, domestic and international air fares in india have witnessed a surge by up to 50% in the last few months.
Air fares at American Airlines, Delta Air Lines and United Airlines – the three largest US domestic carriers – shot up nearly 50 per cent for the week ending May 23 compared to a year ago, according to an analysis by Cowen, a financial services firm. Cowen tracked nearly 300 routes across four different fare categories for the carriers using data from New York-based Harrell Associates, which tracks airline pricing trends, CBS reported.