Australian Lowest Airfares on the Record!
- Image via Wikipedia
Amid the international troubles that are currently affecting the air travel industry comes good news for savvy shoppers, with Australian customers in particular benefitting from a record abundance of cheap flights. However, the bargains are tempered with advice that other classes of travel are encompassing increasingly hidden costs.
Based on an examination of air fare data from the Bureau of Infrastructure, Transport and Regional Economics, air fares in March are at a record 17-year low (the entire time records have been kept), and 13.2 per cent lower on average than a year ago, CommSec analysts have found.
When the cost of living is taken into account, real airfares are even cheaper, 15.1 per cent lower than a year ago.
The analysts looked at the bureau’s “smoothed” 13-month averages, which takes out distortions caused by seasonal volatility in fares.
“It has never been cheaper to fly – that is, if you are prepared to shop around for the best deals,” says CommSec’s Chief Economist and author of the analysis, Craig James.
“Aussie consumers are very price conscious at present and are scouring for the best deals. As a result, airlines are being forced to keep fares low in order to fill up their planes.”
Full priced economy fares and business class travel is another matter, with the latter rising by almost seven percent since last year. James sees this as airlines predicting that the worst of the recession is now over and business travelers will be at the forefront on an industry recovery.
