Airfares fall to record low point
Average airfare hit a record low in the third quarter of last year with the pandemic-driven decline in travel.
The average U.S. domestic airfare was $245 in the July-to-September quarter of 2020, Transportation Department figures show.
The third quarter average fare also was down from $262 in the second quarter of 2020, which was the previous low.
The drop in airfare came as airlines struggled to attract passengers. The number of passengers was down about 68 percent in the third quarter compared with the same period a year ago.
Data from Transportation Security Administration checkpoints show passenger counts at airports still are down more than 60 percent on many days.
- Airlines around the world also are slashing more flights as the worst crisis to hit the industry shows no sign of letting up.
Europe remains the region hardest hit by curbs on travel, with carriers operating at about a quarter of their capacity, said John Grant, an analyst at aviation data group OAG. Even China, which spent the latter part of last year flying more or less as normal, has seen a 12 percent reduction in flights as of Jan. 18, he said.
“It’s not looking good, and if anything it’s moving backward,” Grant said at a webinar Wednesday. “We’ve just got to stoically accept that if you want to travel internationally you have to get some sort of certification.”