Higher prices see the phenomenon of ‘revenge travel’ turn into a willingness to spend more on bigger trips, industry watchers say
International air fares have steadily decreased from record highs seen last year but are expected to remain fairly high in to 2024.International air fares have steadily decreased from record highs seen last year but are expected to remain fairly high in to 2024.International air fares are set to remain stubbornly high throughout the first half of next year, but the preferences of travel-hungry Australians are shifting.
He said the international market was operating at about 95% of pre-Covid capacity, with some airlines unable to run more flights while others deliberately fly fewer but pack out those planes. Elsegood said airlines were on track to reach 100% of pre-pandemic levels during the second quarter of 2024, according to forward schedules. But the plans were not entirely reliable as “airlines will tend to change their strategy quite rapidly” based on demand.“You can shift aircraft to where demand is fairly rapidly.
Australian wages are also keeping air fares higher. Due to the high average income and cost of living, airlines can charge Australians more for the same seat than customers in other countries.Our Australian afternoon update breaks down the key stories of the day, telling you what’s happening and why it mattersBut higher fares mean travel appetites are shifting.
At the same time, 35% of respondents have budgeted to spend more on travel in 2024 while 33% have budgeted to spend the same, indicating a willingness to spend at the prices airlines are charging.
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