Chicago O’Hare International Airport. November 9, 2022
Leslie Josephs | CNBC
Consumers booked fewer flights for Thanksgiving than three years ago, before the Covid pandemic, based on Adobe data released on Thursday.
Domestic bookings dropped 7% in comparison with the identical point of 2019, but high prices translated right into a 3% increase in revenue.
Air travel demand has been resilient this 12 months, despite high inflation and a very sharp rise in prices, helping airlines greater than offset soaring fuel prices and other costs.
October inflation rose lower than expected, but airline ticket prices rose almost 43% from last 12 months.
“The slower rise in bookings indicates that some consumers could also be waiting to see if prices have dropped significantly, while others could also be in search of alternative types of travel comparable to a automotive or train,” Adobe said in its report that analyzed online bookings for six of America’s largest carriers.
Consumers spent $ 76 billion on online flights this 12 months, a rise of 17% in comparison with 2019, Adobe said. Bookings increased by 5%, showing that a part of the rise was attributable to higher fees.