Cheap Thailand flights? That won’t happen soon

Would you believe that fuel prices, labor shortages, and a lack of aircraft contribute to the high cost of flights? The US Labor Department reported a 43% spike in airline CPI in September. Airlines for America said that ticket prices were still low last year, yet CPI airfares increased by 8% from September 2018 and September 2019.

After a summer of cancellations and delays, airlines seem to have regained their equilibrium. By restricting flights, they halted the rise of the industry. Andrew Watterson, COO of Southwest Airlines, acknowledged the unusual circumstance. “Demand is greater than supply. During the summer, higher ticket prices compensated for an 80% increase in aircraft fuel costs and surpassed 2019’s revenues. Despite recent price reductions, industry experts do not anticipate cheap fares in the near future. Domestic round-trip tickets in March 2023 cost an average of US$350, up 26% from last year and 28% from 2019. In 2019, Ryanair’s summer short-haul ticket prices increased by 14%. In Europe, there has been a structural change in capacity over the past two years, according to Neil Sorahan, the CFO of Ryanair. Scott Kirby, CEO of United, claimed…Pilot shortages, aircraft delivery shortages from Boeing and Airbus, Air Traffic Control saturation, and airport infrastructure limitations are real and will take years to resolve globally. Due to labor shortages, Toronto, Amsterdam, London, and Sydney airports struggled to resume pre-pandemic operations. Delays in aircraft deliveries, shortages of spare parts, and limited maintenance slots have also impacted carriers. As a result of travel restrictions and the epidemic, British Airways and Virgin Atlantic Airways withdrew their 747 superjumbos, while dozens of carriers ceased operations or retreated. The prognosis is bleak. The airline sector is ailing, but it aims to return to the runway at an affordable price for consumers.