After two years of being cooped up due to the pandemic, the world is slowly recovering. This also means that travel restrictions are gradually being eliminated in most countries worldwide. Since there’s a demand for travel, this resulted in the rising in airfares.
But the ultimate question is, why? Aren’t airlines supposed to support domestic and international travel to cope with the missed sales over the past two years?
Reasons why airfares are rising in 2022
Fuel prices have skyrocketed due to the war between Ukraine and Russia.
In February 2022, the conflict between Russia and Ukraine startled the world. Russia is the main fuel supplier for most of the European countries, getting most of its sources from the Soviets. The USA has already declared a ban on oil, coil, and gas imports from Russia. What’s worse is that most of the European countries will be cutting their ties with Russia by the end of 2022 and early 2023. As a result, gasoline prices in Europe have risen, making jet fuel more expensive. To balance their revenues, they have to raise airfares to afford and fuel international and domestic aircraft.
This conflict is still ongoing, and the longer the war lasts, the more difficult and expensive it will be for countries around the world to lower the price of their fuel. Although Russia is not the only supplier of fuel, gas, and oil; the affected countries can also get their supplies from Nigeria, Qatar, and Algeria. The challenge they face is the production and transportation of these supplies, as this may take longer than the supplies they receive from Russia. These countries need to transport the supplies by sea, while Russia transports their supplies through specialized pipes.
Post-pandemic travel demand
During the pandemic, there were many changes in the workforce. Most companies and schools have fully embraced remote work and distance learning. As a result, people are more flexible about where they work and where they go to school, as long as they have a laptop and Internet access.
A digital nomad is now a term for those who travel and work/study at the same time. They have the ability to be more flexible in their location and work/study at the same time. There are a number of countries that offer special tourist visas for these nomads to boost the tourism industry, and Thailand is one of these countries. Therefore, there are more and more remote workers and students flying to Thailand because of this special visa.
The more travelers, the more demand for airlines to provide flights to certain destinations. And the more flights, the more fuel that airline companies need to fly their aircraft.
Airfares will continue to rise, but massive sell-off can happen any time of the year because of airline competition.
Airfares will continue to rise not only because of the feud between Russia and Ukraine. But simply because of inflation, the economic situation of a particular country, and the production/transportation of alternative fuel suppliers to their customers.
Airlines are looking for ways to make more revenue and offer more routes to accommodate their travelers. Reducing airfares is possible, but travelers must act quickly. There are several reasons why airfares can go down, and one of them is competition among airlines.
How to get the best airfare deals?
Everyone wants to save on airfares, but sometimes it’s almost impossible to catch the cheapest deals on the market. Here are a few tips on how to get the best airfares and get to your destination:
If you buy at least three months before your desired travel date, you can be sure that airfares will be cheaper. The closer you are to your travel date, the more expensive the fares will be.
Use your credit card points/rewards
A credit card is every traveler’s best friend. Once you have accumulated enough points or rewards, you can easily use them to purchase your next airline ticket. It depends on the type of credit card you use, but most of these cards often offer great deals on flights.
Watch out for deals
Every airline always has a few good special offers. Seasonal deals, dollar fares, and special fares are available throughout the year. It depends on your timing and how soon you can get them. These deals usually do not last long because the number of seats these airlines sell at a low price is limited.
Rising airfares are inevitable and there are many factors that lead to this. The conflict between Russia and Ukraine, a pandemic, inflation, economic problems, and more. But that does not mean travel is impossible. There are airline companies that offer limited deals throughout the year. You just need to act fast and secure your ticket as soon as there is a massive sale on flights. This way you can enjoy traveling to your desired destination.