Ireland: Is the era of cheap flights over?
After decades of falling air fares, the cost of flying has taken off. Aviation research specialist Cirium recently calculated that prices were up 32% on 2019, the industry’s pre-Covid benchmark. While some might quibble with specific estimates, nobody disputes that it is happening – least of all the travelling public. The reason is simple: too many people, too few aircraft. Capacity – basically the number of planes flying around above us – has yet to return to its pre-pandemic level, while the number of people travelling is at or close to that benchmark. So, with supply lagging behind demand, the obvious has happened and fares are rising. People are taking to the skies because it was something that Government-imposed Covid lockdowns denied them. Their easing has sparked worldwide wanderlust. “There’s a sudden desire for experiences over things,” says Stephen Furlong, aviation analyst with Dublin stockbrokers Davy. Michael Collins of industry consultancy TravelMedia.ie says the surge is incredible and shows no signs of stopping. “Everybody has just decided that they want to travel,” he observes. This is more pronounced among some generations than others, he says. “People in their 70s think that if there’s another pandemic, they might not get the chance to travel again, so they are doing it now.” And money appears to be no object. Collins says that often, first class and business class seats sell before economy tickets, so high prices are no deterrent. Air travel in the Republic – which two years ago was not expected to recover fully until 2024/25 – now looks poised to beat pre-Covid totals. Dublin Airport expects passenger numbers this year to at least equal the record 32.9m that passed through there in 2019. Cork, meanwhile, expects to break previous records, with 2.7m passengers this year, while Ireland West Airport Knock anticipates its best year ever.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2023-07-24/general/ireland-is-the-era-of-cheap-flights-over
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Ireland: Is the era of cheap flights over?
After decades of falling air fares, the cost of flying has taken off. Aviation research specialist Cirium recently calculated that prices were up 32% on 2019, the industry’s pre-Covid benchmark. While some might quibble with specific estimates, nobody disputes that it is happening – least of all the travelling public. The reason is simple: too many people, too few aircraft. Capacity – basically the number of planes flying around above us – has yet to return to its pre-pandemic level, while the number of people travelling is at or close to that benchmark. So, with supply lagging behind demand, the obvious has happened and fares are rising. People are taking to the skies because it was something that Government-imposed Covid lockdowns denied them. Their easing has sparked worldwide wanderlust. “There’s a sudden desire for experiences over things,” says Stephen Furlong, aviation analyst with Dublin stockbrokers Davy. Michael Collins of industry consultancy TravelMedia.ie says the surge is incredible and shows no signs of stopping. “Everybody has just decided that they want to travel,” he observes. This is more pronounced among some generations than others, he says. “People in their 70s think that if there’s another pandemic, they might not get the chance to travel again, so they are doing it now.” And money appears to be no object. Collins says that often, first class and business class seats sell before economy tickets, so high prices are no deterrent. Air travel in the Republic – which two years ago was not expected to recover fully until 2024/25 – now looks poised to beat pre-Covid totals. Dublin Airport expects passenger numbers this year to at least equal the record 32.9m that passed through there in 2019. Cork, meanwhile, expects to break previous records, with 2.7m passengers this year, while Ireland West Airport Knock anticipates its best year ever.<br/>
