Here, we take a look at what is driving the increasing cost of flight tickets.
The cost of flight tickets has risen sharply in post-pandemic times, sometimes putting air travel out of reach for some people.
What is driving these sharp fare increases, leading to expensive tickets in certain places like Africa?
COST OF FLIGHT TICKETS
The price of flying has increased across the globe.
Rising costs make air travel more challenging for ordinary travellers, who then have to spend more money on air tickets.
Prior to the pandemic one could sometimes fly to destinations within Europe for less than 10 euros one way – with budget carriers.
Airlines like Ryanair and Vueling often advertised special fares from EUR 9.99 each way at different times of the year.
However, it seems even these promos have disappeared from the market.
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FLYING IN OTHER PARTS OF THE WORLD
Meanwhile, in places like Africa, the cost of flying has increased sharply.
Before the pandemic, it would often be possible to fly between Johannesburg and Cape Town for around 700 South African Rand (ZAR) at times.
Flights between Johannesburg and Durban could often be found for under ZAR 500 per way.
Those days certainly seem to be over. The cost of flight tickets has certainly increased.
RISING FUEL COSTS
What is driving the increases?
Simply put, the cost of aviation fuel also known as jet fuel has risen exponentially.
And, for most airlines, the cost of jet fuel is the major operating cost.
Since jet fuel is charged in USD, a foreign currency for most airlines, this then translates to higher operating costs for airlines, who are forced to increase fares for their flights.
IMPACT OF CURRENCY ON FLIGHT TICKETS
While the higher price of jet fuel affects all airlines, the strength of the currency used to pay for it is also a contributing factor.
In Africa and other regions, where local currencies are weaker than the US Dollar, airlines spend large sums on jet fuel due to the value of their local currency.
Consequently, in places like the UK, the USA and Europe, where currencies are stronger, there is not such a marked effect on the price of air tickets, although fare prices are still higher.
Ultimately, higher fares impact the economic sustainability of airlines as passenger demand is often lower.
