Air Fares Rise in October

Import air passenger fares rose 9.3% year-over-year in October and export air passenger fares rose 12.4% in the same period driven by European fare increases, according to the Bureau of Labor Statistics.

Fares to European destinations increased 20.4% and fares from European destinations increased 26.1% in the last month before the lifting of the US travel ban in November.

The ban, which started in March 2020, included travelers coming from European Union, Britain, and China and later on India and Brazil, as well as overland travelers from Mexico and Canada.

Import air passenger fares from Asia were down 8.4% and 3.5% from Latin America and the Caribbean. Export passenger fares were up more than 20% to Asia and Europe and down 7% to Latin America and the Caribbean.

Import air freight prices were up 27% and export air freight prices were up 13.5%. Within the import air freight category the prices of Asian carriers increased 35.2%.

(By Staff)