Monday, October 02, 2017

Festive season airfares dip 15% from last year

Mumbai: Prices of air tickets for the festive season starting October are down for the third straight year, meaning a bonanza for travellers but an impact on margins and profitability for airlines.
Executives at Indian carriers and travel companies said that fares in this festive season compared to last year have dropped up to 15% on advance booking but 50% when booked last minute.
"We have seen a 15% dip in overall fares this festive season compared to last. This has now become a trend as fares have constantly been dipping in each festive season compared to last. For example, during the day of ashtami (the 8th day of the Navratri and second day of Durga Puja), spot fares to Kolkata were as low as Rs 8,000...more than half the levels of last year," said a senior airline executive who didn't want to be named.
02/09/17 Anirban Chowdhury/Economic Times