Here’s Why Flights Keep Getting More And More Expensive

June 28, 2024

If you’ve been daydreaming about jetting off to amazing destinations only to have airfare prices slap you back to reality, it’s not you — it’s the economy. According to CNBC, airline tickets have been climbing so fast that they’ve surpassed inflation, shooting up by a staggering 25%. To illustrate, an average domestic flight out of Los Angeles at the end of 2023 was $416.69, per the Bureau of Transportation Statistics. Just five years prior, in 2018, tickets out of LAX were averaging $370.10. It’s not rocket science to figure out why, really. Because of the pandemic, many are still trying to make up for lost time. And if you’re banking on airfare prices stabilizing anytime soon, it may not happen. Demand for travel is still sky-high, with everyone itching to head to once-in-a-lifetime vacation destinations or explore some hidden gems. The more people want to fly, the higher prices will be — basic supply and demand. Sure, you might find a few price dips, but generally, you can kiss those pre-pandemic fares goodbye. And if you’re eyeing a vacation over peak seasons, especially the summer, good luck finding a fare that won’t break the bank.

To read what Peter Vazan, a travel industry insider and the executive vice president of industry relations at a travel agency, says, click here