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As Air Travel Breaks Record Volumes, U.S. Airfares Fall to Historic Lows
June 27, 2024
Amid what’s expected to be a record-breaking summer travel season, travelers can rejoice as airfares continue to fall to historic lows.
Government data shows airfares in May dropped nearly 9 percent from last year, when adjusted for inflation. Fares have fallen more than 19 percent, when adjusted for inflation, compared to before the pandemic in May 2019.
Since deregulation of the U.S. airline industry in 1978, domestic fares – including fees – have dropped nearly 50 percent, when adjusted for inflation.
This is a breath of fresh air for American consumers, who are paying more for many everyday necessities including food, housing and electricity.
Airlines for America (A4A) released a new video, highlighting competition between air carriers has kept airfares at historically low levels. This has also led to increased access to air travel, which is why nearly 90 percent of Americans have flown, half before their 16th birthday.
To learn more, visit airlines.org/the-power-of-choice/.