Australian flight prices hit a 15-year high with more than TRIPLAR as the two fares you can still score a ‘bargain’ on are revealed
Fares on domestic airlines have reached a 15-year high with some popular routes costing three times as much as in 2019.
The average airfare is 27 per cent higher than it was three years before the pandemic struck, the latest Australian airline competition report from the ACCC reveals.
Discounted economy fares have grown the most as airlines benefit from increased demand, while flexible business and economy airfares have become the clear winners for travelers and remain at previous prices to the pandemic in November 2022.
Round-trip airfares from Ayers Rock to Sydney more than tripled, from $249 to $829 in the past three years to November 2022.
Flights from Sydney to Perth and Ayers Rock have increased significantly in the last three years.
Other major city routes also saw significant price increases, with Adelaide to Gold Coast up 156 percent from $374 to $958, Melbourne to Perth up 146 percent from $439 to $1,078, and Perth to Sydney up 143 percent from $497 to $1,210.
“Airfares have increased due to strong travel demand and limited supply, as airlines have reduced their schedules in response to high jet fuel costs and operational challenges,” said ACCC Commissioner Anna Brakey. .
In September, discounted economy fares on Australia’s top 70 domestic routes were at their highest in 15 years, while just six months earlier the index was at its lowest in 11 years.
“The all-time lows and highs for discount airfares in the same year illustrate just how changeable this market has been as the industry recovers from the pandemic,” said Ms. Brakey.
The ACCC will be “closely monitoring airlines” to make sure they put in more flights and additional seats to start “reducing pressure on airfares.”
“We would be concerned if airlines retained capacity to keep airfares high,” said Ms Brakey.
Many Australians are choosing to stay at home this summer as expensive airfares remain out of reach for many.
The top three airline groups – The Qantas Group, Virgin Australia and Rex – are expecting a ‘profitable’ financial year with Qantas expected to pocket up to $1.45bn over the six months to the end of 2022.
This winter, flight cancellations and delays wreaked havoc on national airlines as sick leave, staff shortages and supply chain disruptions affected their return to pre-pandemic levels of travel.
‘as we headed In the summer holidays, airlines have told us they will keep additional crews and aircraft on standby to help minimize delays,” said Ms. Brakey.
Nearly 31 percent of all flights were delayed in October, compared with the long-term average of around 18 percent.
Jetstar, Qantas, Rex and Virgin Australia collectively canceled 2.9% of their domestic flights in October 2022, up from 6.4% in July.