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Hey, what happened to all those cheap airline tickets?
Bad news: Those cheap airline tickets are gone.
The average domestic airfare hit $397 in the latest reported quarter, according to the Bureau of Transportation Statistics. It’s the highest level in eight years.
But that’s only part of the story. A new study says ancillary airline revenue — fees for luggage, seat reservations and early boarding — will rise an astounding 56 percent this year. Airlines will collect $102.8 billion worldwide from those extras in 2022.
So the actual cost of your ticket will be much higher.
By the way, that’s a conservative estimate. Airlines Reporting Corp. (ARC), a company that provides ticket transaction settlement services between airlines and travel agencies, says ancillary transactions have increased 11 percent month-over-month in 2022 and 74 percent from last year.
Prices are up. Fees are up. But that’s not all.
Airlines are making an obscene amount of money. And meanwhile, regular travelers like you and me have had to cancel or postpone our travel plans amid soaring prices. It’s time for some justice, and in a moment, I will tell you how you can get some.
