Flight Prices Soar to Five-Year Highs, Warns Fare-Tracker Hopper

According to fare-tracker Hopper, flights during the upcoming summer season will be the most expensive in five years. Average domestic airfares for Thanksgiving trips have risen by 22% compared to 2022, with a price tag of $350. International round trips average $795, also reflecting a 22% increase. Hopper’s data further reveals that domestic round-trip tickets over Christmas have spiked nearly a third higher than in 2019, averaging $463, while international fares are up by 26% to $1,300.

Traveling during peak-demand days, such as the Wednesday before Thanksgiving or the days leading up to Christmas, always comes with higher prices. To manage costs, travel experts recommend flexibility and consider traveling on less busy days.

Brett Snyder, founder of the Cranky Flier travel website and a former airline manager, warns that finding cheap fares during the holiday season might be challenging due to airlines’ enhanced control over seat availability. Airlines have become more efficient in managing their flight schedules, resulting in fewer flights on Christmas Day. If any discounts are available, they are unlikely to be significantly cheaper.

The factors that contributed to a chaotic summer for air travel, such as a shortage of planes, staff, and training backlogs, are not immediately easing. This limitation on flying capacity is expected to keep prices elevated, although they have already decreased from the year’s peak.

Hopper’s lead economist, Hayley Berg, advises booking holiday travel no later than mid-October. She emphasizes the importance of seizing favorable prices, even if they appear reasonable, as prices are expected to remain high.

Holiday flight prices are reaching five-year highs, with significant increases compared to pre-pandemic levels. Travelers should anticipate higher fares during peak-demand days and consider booking early to secure more favorable prices. While airlines’ improved control over seat availability might reduce the chances of finding significant discounts, flexibility and proactive booking can help manage holiday travel expenses effectively.