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Why Are Flights Currently So Expensive? Also, how can you obtain the best deal?

written on 13 Jan 2023 4 Minutes Read

Why Are Flights Currently So Expensive? Also, how can you obtain the best deal?

Budget travel doesn't have to be extinct, but it's difficult to not question why airfares seem to be so high right now. Travel is not exempt from the inflation that is exploding at its quickest rate since 1981, largely due to high but falling gas prices. Transportation is so expensive unless you consider leasing an electric car for a road trip.

More expensive airfares are the result of several different circumstances. These are the ones having the biggest effects on the pricing you've been seeing (and will continue to see in the short term).

Demand for travel

One must first realise that the cost of flights is governed by the principles of supply and demand to comprehend why they are so expensive. After the price slashes and extreme lows in traveller numbers during the pandemic, the spring and summer of 2022 saw the return to normal passenger numbers and flight demands. But with this dramatic increase in demand and the usual summertime demand, airlines have struggled to return to pre-pandemic performance.

fuel costs

Several factors have caused the price of jet fuel to rise, albeit it has been on the decline since June, when it peaked. Gas prices have been impacted by the conflict in Ukraine as nations impose trade restrictions on Russian oil. Demand also causes a problem. The pandemic's lower demand, which changed to a significant rise in demand after limitations began to remove, has put pressure on the currently available oil supplies.

Giant aircraft parked

Even though most governments have loosened cross-border prohibitions, carriers are wary of returning all of their idled aircraft.As airlines switch to more fuel-efficient models like Airbus A350s and Boeing 787 Dreamliners, this is especially true for large aircraft like the Airbus A380 superjumbos and Boeing's older 747-8s.

The pain is most noticeable in Asia, where limitations were loosened the slowest and where China, the region's largest market, is still essentially closed.

During Covid, carriers similarly reduced the size of their networks.  Less aircraft means fewer seats to accommodate the rebound in demand, which has led to higher fares.

Demand varies with the season.

The fact that demand fluctuates depending on a number of common elements, such as the season, is another factor contributing to the high cost of flights in 2022. The 2022 summer rush was made worse by post-pandemic-related factors, which dramatically increased airfare. However, in average, travelling in the high season will cost twice as much, quadruple the amount, or even more. Major holidays (such as Christmas, New Year's, Chinese Lunar New Year, and Thanksgiving in the US) and unique celebrations or events, such as Diwali or Dashain in the subcontinent, are among the busiest travel times.

 Staffing issues

Despite the fact that more people want to travel, the airline sector as a whole is still dealing with pandemic-related personnel reductions. There are 15 to 20 percent fewer flights than are required, according to estimates. In order to prevent devastating mass cancellations and delays brought on by bad weather and personnel issues, flights were reduced from the usual summer schedule. Before the epidemic, the pilot shortage in many countries was already intolerable. The number of individuals who need to be taught to eliminate the shortage would likely take years, according to experts.

 Budget-conscious travellers

Since many travel restrictions have been loosened, it doesn't appear that higher ticket prices are deterring people from travelling.

Willie Walsh, director general of the International Air Transport Association, stated last month that some consumers are using dormant holiday budgets and upgrading to more expensive aeroplane cabins for vacations.

According to Hermione Joye, sector head for travel in Asia Pacific at Google, the so-called vengeance traveller is "an individual that has been emotionally affected by the lockdowns and has sought travel for the last two years and they've dreamed about it." They are highly impulsive.

 What day is the cheapest to book flights?

It's a bit of a fallacy that booking in the middle of the week will result in a better rate. According to a study, purchasing flights in the middle of the week only resulted in an average ticket difference of $1 to $20. Get imaginative by determining whether purchasing two one-way tickets will cost less than purchasing a roundtrip ticket or by leveraging hidden city rates to obtain more affordable tickets. To see if you have found a mistake fare, you may also use tools like newsletters and check prices on travel companies.

 How far in advance should I book a flight?

The primary booking window, as a general rule, is between six weeks and four months before your travel. However, depending on where you're going to go, this may change. The earlier you buy, the better. For instance, tickets to Asia are likely to be the cheapest 6 months in advance.

Finding fantastic airline deals may sound like a full-time job, but if you can save a sizable sum of money, it might be worthwhile.

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