According to a report by LendingTree, airfare prices within the United States have risen at 95 out of the top 100 airports over the past year. The largest increase was observed at Miami International Airport, where airfares rose by 23.9 percent. Maine’s Portland International Jetport, Southwest Florida International, and California’s Long Beach Airport also experienced significant price hikes. Dane County Regional Airport in Michigan had the highest average domestic plane fares, costing travelers $537.70 per flight.
LendingTree’s top credit analyst, Matt Schulz, issued a warning to customers, advising them to assume that airfares will continue to rise and to plan accordingly. Although the average cost of a domestic plane ticket in the first quarter of 2023 was $381.55, a 9.8 percent increase from the previous year, this rate of increase was slower than the previous year. Schulz attributed the surge in airfare prices to Americans’ love for travel and their desire to make up for lost time due to the pandemic.
Despite the rising cost of travel and global inflation, there is still strong demand for air travel. Some airports, such as Westchester County Airport, even experienced a decrease in average ticket prices. Schulz emphasized the importance of flexibility when searching for cheaper flights, suggesting that travelers consider flying at odd times or from nearby airports to save money.
