April U.S. Airfares Log Highest Monthly Hike Since 1963

As business travel’s recovery picked up speed, the US Consumer Price Index airline fare index in April rose a steep 18.6 percent from March levels, the largest one-month increase since the inception of the series in 1963, according to the US Bureau of Labor Statistics . Further, the index for airline fares rose 33.3 percent over the past year, the largest 12-month increase since the period ending December 1980.

Earlier today, JD Power released its 2022 North America Airline Satisfaction Study and noted that increasing fares was a contributing factor to a year-over-year decline in the overall satisfaction score.

Despite the higher ticket fares, demand for air travel is expected to be strong this summer, outstripping supply and surpassing even 2019 levels, according to several carriers’ first-quarter earnings reports.

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