Holiday Airfares to Hit a Five-Year High This Year

September 13, 2022 By Monica Green

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According to a recently released report by fare-tracking platform Hopper, the cost of holiday airfares will hit a five-year high this year. Hayley Berg, Hooper's lead economist, stated in the 2022 holiday travel outlook report, "Significant factors including jet fuel prices, fewer flights scheduled and two years of pent-up holiday travel demand will combine this year to drive Thanksgiving and Christmas airfares to their highest in the last five years." Thus, if people do not want to pay sky-high prices for their flights this Thanksgiving or Christmas, they must book their tickets early.

Furthermore, the cost of airfares has soared in recent months, even with several flight disruptions and cancellations. Besides, as the Covid-19 pandemic fears started waning, airlines struggled to meet the higher demands due to pilot and flight crew shortages, higher fuel prices, and other supply chain hurdles. And these challenges skyrocketed during peak holiday weekends like the Fourth of July and Labor Day.

Hopper's data shows a significant increase in airfares this Thanksgiving and Christmas

According to Hooper's data, the average domestic for trips over Thanksgiving is $350 this year. And that's a sizeable 43% increase from 2021's holiday price and a 22% increase from the pre-pandemic 2019's holiday travel season. And for international flights, it's even higher, with an average price of $795 per ticket this Thanksgiving, which is a 41% increase compared to last year.

Moreover, the airfares are even more costly over the Christmas holidays. The average domestic airfare is $463 per ticket through mid-September, which is 39% more expensive than in 2021. And for international flights, Christmas plane tickets cost a colossal average of $1,300.

How can people save on airfares this holiday season?

According to CNBC, travel experts recommend flexibility and traveling outside of the busiest travel days. Also, Berg noted that fliers who book their flights early see the most considerable savings.

However, Brett Snyder, Cranky Flier travel website's founder and a former airline manager, warned that cheap airfares would be difficult to find on any day this holiday season. As per CNBC's reports, Snyder stated this is because airlines have improved their control over how many seats they sell. He remarked, "Airlines are so much better at this now. They just fly a lot fewer flights on Christmas Day. So if it is cheaper, it's not significantly cheaper."

On the other hand, Berg recommended fliers book their airfares no later than mid-October. He advised them, "If you see a good price, even a price that looks reasonable to you, we recommend you book."