Setback for flyers, air fares jump 17% even as summer vacations loom
It has been revealed that, air fares have surged by 17% in the first 15 days of May.
Summer is one of the most looked forward to seasons during which families and friends take their vacations. During this time, many airlines offer heavy discounts on air tickets on both domestic and international destinations. However, this time the tables have turned and instead of cheap tickets you may end up paying higher prices for your trip. In case you are planning to travel anytime soon, here’s what you need to know about current air ticket prices.
It has been revealed that, air fares have surged by 17% in the first 15 days of May. Choosing to increase air fares is a backward step for airlines as their demand gets negatively impacted.
Shatral Dhal, COO, Yatra.com, says since the beginning of May, rates have started to rise on important routes. She was speaking to Economic Times. Rates have soared by 15% in May compared to April 2018. Also, when compared to last year same month, the increase was 10%.
Dhal added, “This is especially visible in the last-minute fares which have gone up very significantly. This increase can be attributed to the 6.3% hike in Aviation Turbine Fuel prices at the beginning of the month as well as the increased demand in the peak summer holiday season.”
Data displayed by Indian Oil also revealed that aviation turbine fuel prices have seen hikes ranging from 1% to over 6% in various metro cities starting May 01, 2018 for domestic airlines.
In New Delhi ATF is available at Rs 65,340 per KI up by 6.33% from previous Rs 61,450 per KI. Also, Kolkata and Mumbai prices stood at Rs 69,897 per kilometer and Rs 64,901 per KI higher by 5.93% and 6.35% compared to their previous price of Rs 65,985 per KI and Rs 61,025 per KI respectively. Unlike others, Chennai saw just gradual hike of 1.99% to Rs 65,898 per KI as againsts previous Rs 64,615 per KI.
As for international flights, New Delhi saw hike of 5.20% to $708 per KI from previous $673 per KI, as for prices in Kolkata surged by 4.87% to $758 per KI from previous $718 per KI, Mumbai is at $719 per KI above 5.11% from previous $684 per KI and Chennai is at $689 per KI up 1.02% from previous $682 per KI.
Since the start of 2018, citizens have been paying higher fuel prices that including petrol diesel and ATF, as the state-owned OMCs have limited room for reducing rates.
However, for travellers, the options to flying are definitely there. Indian Railways has raised its act and is providing a much better travelling experience in terms of speed, hygiene and rates that are affordable. Surely, that is a competition that airlines will have to be wary of going forward.
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