While it may seem a little hard to believe, the average fare for airline travel has hit its lowest level in nearly 25 years.
A new airlines-and-airports/third-quarter-2018-air-fare-data” target=”_blank” rel=”nofollow”>report from the Bureau of Transportation Statistics shows that when adjusted for inflation, prices for airline tickets are now at their lowest point since the government started tracking such numbers in 1995.
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The average domestic itinerary was $343 in the third quarter of last year, which is a 0.4 percent, or $2, drop from the third-quarter of 2017. The price also represents a $7 price decrease from the second quarter of 2018.
The average round trip ticket during the third quarter of last year, meanwhile, was $417, and the average one-way ticket was $249.
It’s important to note, however, that these all-time low prices do not count fees the airlines now add for things such as checking bags, upgrading a seat and more.
In what is likely not a secret to any traveler, airlines are getting a growing portion of the revenue from the extra charges and fees tacked on above and beyond the basic fare.
“In recent years, airlines obtained additional revenue from passenger fees, as well as from other sources,” states the report. “U.S. passenger airlines collected 74.0 percent of total revenue from passenger fares during the first nine months of 2018, down from 87.6 percent in 1995.”
