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Airfares continue to rise

January 26, 2012|By Hugo Martin
  • In the July to September quarter, the average domestic airfare cost $361, a record high.
In the July to September quarter, the average domestic airfare cost $361,… (Getty Images )

As demand continues to rise for air travel, new federal statistics show that domestic airfares last summer set a record for the period.

In the July through September quarter, the average domestic airfare rose to $361, a 6% increase over the same period in 2010, according to the latest data from the U.S. Bureau of Transportation Statistics.

The average airfare for the third quarter of 2011 was 0.5% higher than the previous record high, $359 for the same period in 2008, according to the bureau.

The bureau calculates the fare by taking an average of all domestic fares, including round-trip tickets and one-way fares.

The average fare, not adjusted for inflation, is the second highest amount for any quarter, behind the second quarter of 2011 when the average price was $370, according to the bureau.

As a result of higher fares and increased demand, most of the nation's major airlines are reporting steady profits, despite high fuel costs.

Delta Airlines, for example, reported this week that fourth-quarter net income of $425 million, compared with $19 million, a year earlier, when it was hit with charges from early debt repayment and consolidation of airport operations.

Also

Lowest airfares found six weeks before flight, study says

Holiday travelers should expect higher airfares and packed planes

Airfare ads soon must include taxes, fees


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