Airfares remain over 50% higher than pre-COVID levels, with a long-term decline anticipated due to supply chain issues and grounded aircraft.
Airfares have decreased since their pandemic peak, with international fares down 23% and domestic fares down 13%, yet they remain over 50% higher than pre-COVID levels. Experts, including aviation specialist Irene King, anticipate a long-term decline in fares, influenced by supply chain issues and grounded aircraft. While recovery to pre-pandemic prices is expected, it may take longer than in past economic downturns.
September 21, 2024
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