Passengers may not agree, but new data shows the average airline fare has bottomed to its lowest level in almost 25 years.
A new report from the Bureau of Transportation Statistics shows airline ticket prices at their lowest point since the government started tracking the numbers in 1995. Data has been adjusted for inflation.
The report shows the average domestic itinerary cost $343, as of the third quarter of 2018, which is a 0.4 percent (or $2) drop from the third quarter of 2017. That’s also a $7 price decrease over the second quarter of 2018.
The average round-trip ticket during the third quarter of last year was $417, and the average one-way ticket was $249.
These prices do not account for add-on fees airlines levy for items like checked bags and seat selections.
“In recent years, airlines obtained additional revenue from passenger fees, as well as from other sources,” states the report. “U.S. passenger airlines collected 74.0 percent of total revenue from passenger fares during the first nine months of 2018, down from 87.6 percent in 1995.”
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