India

Airfares are expected to plummet in the coming months

According to industry executives, airfares are most likely to fall by 40 percent

We have all heard about the government of India’s decision to increase the number of flights and restart regular international air travel from March 27 onwards. After this decision comes into the picture, according to industry executives, airfares are most likely to fall by 40 percent.

After two years of COVID-induced lockdowns, now that travel has begun to pick up, airlines across the world are planning to increase their number of flights. They are also expecting travel trends to pick up this year.

Lufthansa Airlines and its group carrier, Swiss International Air Lines, are planning to double the flights in the coming months. Singapore Airlines, according to its executives, may increase flights by 17%. The domestic airline company in India, IndiGo, is also hoping to resume its services with 100 global flights in the next few months.

Since India has banned all regular international flights, it has been operating flights under the air bubble programs that it has with other countries. Since there is limited capacity on airlines around the world, airfares in the past couple of months have skyrocketed. On some routes, airfares increased by up to 100 percent.

According to industry experts, there is a demand-supply imbalance at hand as many regular international flights have been suspended. International travel has therefore been very expensive under the air bubble arrangements. Now, air ticket prices are set to decrease as airlines go back to normal.

https://timesofindia.indiatimes.com/travel/travel-news/airfares-are-expected-to-fall-by-40-percent-in-the-coming-months/as90185400.cms#:~:text=After%20the%20Government%20of%20India’s,This%2C%20according%20to%20industry%20executives.

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