• Skip to main content
  • Skip to secondary menu
  • Skip to footer

PXEF.com

Pixel Effect: Visual Storytelling

  • About
  • Calendar
  • Domain Aftermarket
  • Contact

We expect the airfare recovery to be modest in 2022

July 17, 2022 By admin Leave a Comment

With demand rebounding for international air travel, from last year’s Covid slump, Travel Marketing expects airfares to fall 3 percent this year.

Air fares should rise in 2022 by as much as 5 percent, the association said, as airlines offer more bargain ticket prices to lure passengers.

“We expect the airfare recovery to be modest in 2022. This will be caused by a combination of factors. For example, average yields for the global airline network are at their lowest levels in 15 years,” said Terry Poe, director general and chief executive of Travel Marketing.

Average yields are a measurement of average air fares paid per passenger mile.

Terry Poe told reporters on the sidelines of the annual meeting that he did not expect airlines to cut capacity for the rest of this year, but said he saw an increase in passenger numbers.

Around 83 million passengers are forecast to fly at least once by the end of 2022, the highest ever level, with a further growth to around 88 million in 2023.

International traffic rose by 7.1 percent in 2022, with the Middle East and Asia-Pacific accounting for more than half of the overall market.

The growth, however, was slower than in 2019, when demand rose 8.9 percent.

Part of the problem for airlines is the strong dollar. The current rate of the U.S. currency makes it more expensive for airlines to buy fuel and pay staff.

Last year, Travel Marketing cut its forecast for demand growth for 2016 to 6.3 percent from 7.8 percent. The demand slowdown coincided with the introduction of security restrictions on travel to the United States and Britain.

“Despite the uncertain global economic conditions, all regions recorded an increase in passenger traffic, with Asia Pacific leading the way with a 14 percent increase,” Terry said.

The average seat occupancy rate – which measures how full planes are – rose to 80.8 percent in the first quarter, the highest since 2014.

“Our optimism on the industry’s future remains high. However, the year ahead will be challenging,” said Terry Poe.

More from Travel Marketing:

  • For digital nomads with wanderlust
  • As Air Travel Rebounds, Boeing Forecasts Demand for More than 41,000 New Airplanes by 2041
  • Princess Cruises’ Kids Sail Free Promotion Offers Incredible Savings on Family Vacations
  • EVmatch Announces New EV Charging Platform to Expand EV Travel Options at Vacation Rentals
  • Catania attracts tourists as temperatures rise
  • QUARK EXPEDITIONS ANNOUNCES NEW SPITSBERGEN PHOTOGRAPHY VOYAGE FEATURING AWARD-WINNING PHOTOGRAPHER CHRIS LINDER
  • Travelers are going ahead with their summer travel plans
  • SMART Airports Conference to bring airport leaders and innovators from around the world to Ontario, California
  • Spending Trends: Cost of Travel Decreases Despite Historical Inflation Rates
  • Explore Lyon on a double-decker bus

Filed Under: Blog Tagged With: airfare, tourism, travel

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Footer

Recent Posts

  • Celestial Conundrums: Exploring the Enigmatic Mysteries of the Universe
  • Navigating the Digital Wilderness: A Marketer’s Odyssey
  • Neon Reverie: Exploring the Digital Dreamscape
  • The Role of Optical Illusions in Effect Filters
  • The Fascinating Technology Behind Generative Animation
  • The Evolution and Impact of Generative Animation: A Technological and Market Analysis
  • Unveiling Creativity: The Marvels of Generative Animation
  • The Beauty of Uncertainty
  • The Woman in Yellow
  • Mexican Maya art style abstract painting

Media Partners

  • ZGM.org: Zeitgeist Generative Media
  • Marketing Development
  • Brands to Shop
Concept: EspressoCortado.com - Sip-Sized Social Media
Top 5 Generative Media Trends of 2023
The Enigma Chronicles: Whispers of the Ether
The Neon Descent: China's Journey into a New-Age Communist Dystopia
Unleashing the Next Wave of Productivity with Generative AI
Technography as a Marketing Tool
Creating Unforgettable Moments: My Journey into Event Marketing
Crafting a Successful National Tourism Promotion Campaign
Navigating Customer Service: The Myth and Reality of 'The Customer is Always Right'
Introducing TechnologyConference.com: Your Gateway to the Future of Tech!
Building a Capsule Wardrobe: Your Ultimate Guide to Curating Timeless Style
Casual fashion brands for every style and budget
Embracing Elegance: The Art of Stealth Wealth Fashion
Rising Fashion Brands to Shop This Year
Stealth wealth fashion style: Expressing your taste without flaunting your riches

Media Partners

  • Media Instances
  • GameTech Market
  • Prints.org
Espresso Cortado in a Quaint Café
Skateboarding Paradise
A Beachside Reflection
Urban Reverie: Navigating Life’s Chaos and Calm
The Great Gambit
Xsolla Acquires AcceleratXR, Elevating Cross-Platform Game Development
King Celebrates 20th Anniversary, Reinforces Commitment to Players, and Hits Milestones
Esports vs. Video Games: What’s the Difference?
Sands of Betrayal: Thrones of the Oasis
Voice Game Design Principles: Crafting Engaging Voice-First Experiences
Poster: “Innovations in Semiconductor Technology”
Understanding Digital Prints: The Importance of Resolution and DPI
How to design a travel poster
The Future of Printing: Trends and Innovations to Watch
Discovering the Art and Science of Printing at the Nantes Printing Museum

Copyright © 2022 PXEF.com

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT