US airfares heading up after record 20% fall in 2020
Intrepid US travelers who flew during the coronavirus pandemic got a real bargain in 2020, much to the chagrin of struggling airlines. Average domestic airfares fell 18.6% to $292 compared to 2019, according to new data from the Bureau of Transportation Statistics. This does not include spending on ancillary fees, like those for checked bags or extra-legroom seats. By themselves, airfares were at the lowest level adjusted for inflation since the bureau began collecting data in 1995. Airlines were hit hard by the Covid-19 crisis in 2020. At one point during the year, passenger numbers fell to levels unseen since the 1950s. Traffic has climbed, albeit with setbacks, since last April, with TSA screening numbers holding well above 1m people a day since March 11. But that drop in demand pushed airfares down, and the industry spilled red ink. The industry posted a collective $35b net loss during the year. Things have begun to turn. A strong uptick in net bookings in March helped some airlines put daily cash burn behind them — though that is not to be equated with turning profits — as they head into the traditionally busy summer travel season. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-04-21/general/us-airfares-heading-up-after-record-20-fall-in-2020
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US airfares heading up after record 20% fall in 2020
Intrepid US travelers who flew during the coronavirus pandemic got a real bargain in 2020, much to the chagrin of struggling airlines. Average domestic airfares fell 18.6% to $292 compared to 2019, according to new data from the Bureau of Transportation Statistics. This does not include spending on ancillary fees, like those for checked bags or extra-legroom seats. By themselves, airfares were at the lowest level adjusted for inflation since the bureau began collecting data in 1995. Airlines were hit hard by the Covid-19 crisis in 2020. At one point during the year, passenger numbers fell to levels unseen since the 1950s. Traffic has climbed, albeit with setbacks, since last April, with TSA screening numbers holding well above 1m people a day since March 11. But that drop in demand pushed airfares down, and the industry spilled red ink. The industry posted a collective $35b net loss during the year. Things have begun to turn. A strong uptick in net bookings in March helped some airlines put daily cash burn behind them — though that is not to be equated with turning profits — as they head into the traditionally busy summer travel season. <br/>
