Here’s why it’s so hard to find cheap airfare this year — and why 2023 isn’t looking much better

Cheap airfares are hard to find, and it might not get much easier in 2023. Between staffing shortages, aircraft delays and airlines’ conservative schedules after costly travel meltdowns, available seats are limited. Airlines are also passing along higher fuel prices and other costs to customers, keeping ticket prices elevated. But travelers, at least so far, are willing to pay the price. “Holiday flights are going to be expensive once again,” said Scott Keyes, founder of flight-deal site Scott’s Cheap Flights. “The pricing power has shifted back to the airlines for winter holiday travel.” Domestic airfares peaked in May, according to fare-tracker Hopper, but they’re on the rise for the holidays compared with last year. Domestic airfare deals over Thanksgiving are averaging $274, up 19% from 2021, while domestic roundtrips over Christmas are going for $390, up 40% from last year, Hopper says. The three biggest US airlines — Delta, United and American — each reported profits and record revenue for Q3. They all expect to remain profitable through the end of the year, as strong bookings and spending on co-branded credit cards continue. It’s a far cry from early in the Covid pandemic when travel collapsed and the industry was careening toward record losses. Airlines were propped up by $54b in taxpayer aid to weather the crisis and urged workers to take buyouts. “Demand has not come close to being quenched by a hectic summer travel season,” Delta CEO Ed Bastian said on the carrier’s quarterly call last week. Bookings have remained resilient despite high inflation and rising interest rates, as consumers refuse to give up getaways, and some even find new ways to travel thanks to more relaxed office attendance policies.<br/>