Did you buy your Spring Break tickets yet? Well I warned you about airfare increases last week, and my fears have been confirmed. Airlines have raised ticket prices 6 times so far this year. And they don’t plan to stop there. According to this CNNMoney.com article:
They [airlines] also hiked up fuel surcharges by more than 20% since 2008, even through oil prices are down about 28% since their 2008 peaks.
How do they justify that? Well they’ve reduced their fleets. Meaning they’ve removed planes from service to limit the amount of seats they can sell and therefore drive demand. And it’s working. So, if you were planning to buy a ticket in the next few weeks, you may want to hold off. That or use those frequent flyer miles you’ve been banking.