Cost of air travel falls thanks to cheaper fuel
Global airfares were down 5% in the first eight months of this year, due largely to a fall in oil prices, according to IATA’s latest financial monitor.
The cost of crude oil has since dropped even further, dipping below $40 a barrel due to expectations of an increase in supply and falling demand, with slower than expected growth, especially in key economies like China.
However, worldwide airline share prices fell 6% in November, largely due to concerns that the terrorist attacks in Paris will lead to a drop in demand for travel.
Financial performance of the airline industry has remained solid, said IATA, but this is mostly driven by Europe and the US as airlines in other regions are showing declines in the third quarter of the year compared with the same period of 2014.
Passenger loads reached a record high of just over 80% in October, but freight load factors reached the lowest level since mid-2009.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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