Airlines reduce fall fares to attract more passengers
It’s a tried-and-true commercial strategy that dates back centuries, lowers the price, and hopes that the difference is offset by increased volume.
According to Business Insider, this is what airlines appear to be doing in an attempt to attract more passengers during what is typically a slow period for leisure travelers.
While the spring and summer were a benefit for carriers, who had not expected such a swift comeback in leisure flying after more than a year of the coronavirus pandemic, the fall was mostly borne by business travelers.
This year, though, many organizations are keeping their employees at home and working via Zoom calls. As a result, airfares from September through November are projected to be lower than usual.
The hope is that an increase in passenger flow between now and the lucrative six-week holiday travel period from mid-November to after New Year’s will result in increased revenue. Fares are expected to be priced similarly to last year.
According to the travel data company Hopper, September may be the cheapest month of the fall. Airfares are expected to fall 10% in September, with the typical round-trip domestic ticket costing $260.
Hopper predicts that airfares will rise 11% from September levels into December for holiday travel. As a result, average round-trip prices are estimated to be $289.
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