"Airfare hasn't escaped the tumult: US airfares are up 14.9 percent compared to a year ago, largely due to fuel price spikes linked to disruptions in the Strait of Hormuz caused by blockages, bombs, and blockades."
"Airlines have been warning about big price changes since fuel prices first went up in early March. Those businesses are especially sensitive to higher prices because fuel alone accounts for more than a quarter of their overall costs."
"Experts recommend booking domestic flights four to six weeks before go time, and international flights about three months out. Now, 'it's kind of late in the game to be booking out summer trips,' says Katy Nastro."
"Airline consolidation could be on the horizon. Less competition means higher prices. Spirit Airlines has reportedly offered the US government a financial stake to avoid possible liquidation."
Airfare prices in the US have risen by 14.9% compared to last year, primarily due to fuel price increases linked to global instability. Airlines are sensitive to these costs, which account for over a quarter of their expenses. Experts recommend booking flights earlier than usual, with domestic trips ideally booked three to seven months in advance and international trips four to ten months out. The potential for airline consolidation poses further risks, as reduced competition could lead to even higher prices.
Read at WIRED
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