Airlines are finally cutting ticket prices as flight numbers rise

Qantas Airways, not known for usually offering big discounts, has cut prices more than six times in 2024. Virgin Australia is averaging at least one fare sale a month. Even Ryanair Holdings, which practically invented affordable European air travel, says flights are getting cheaper. Passengers around the world are winning some respite from the fare madness that followed the pandemic – and further price declines are coming. It is a partial re-balancing of power from the post-pandemic demand surge that gave airlines almost free rein over fares. As travel restrictions lifted and the world rushed to reconnect, prices ballooned for the reduced number of seats that were available. Premium fares reached more than US$20,000 (S$26,800). Now, falling fares reflect the growing number of international flights on offer, particularly in Asia and Europe, and a travelling public that is increasingly cost conscious. “It’s not just a blip, it’s a global trend,” said James Kavanagh, CE of leisure at Brisbane-based travel agency Flight Centre Travel Group. “Airlines certainly don’t have all the power at the moment.” International fares globally fell 6% in the first six months of 2024 from the year-ago period, Flight Centre said on July 24. Flights out of Australia were 13% cheaper, while fares to Indonesia – home to Bali, one of Australia’s favourite getaways – slumped 18 per cent, Flight Centre said. Prices will continue to fall as the cost-of-living crisis makes consumers more price-sensitive, Mr Kavanagh said. With under-pressure airlines seeking to fill planes months before departure, there are deals for early bookers, he said, citing 10-day tours to China, including flights and accommodation, on offer for A$999 (S$876).<br/>