After Covid-19 a pandemic that affected the world, tries are made to go back to normal. Traveling is one of the things that people couldn’t do with all the regulations and border closing. Coming to summer of 2022 most the countries have lifted all these regulations and are ready to welcome the travelers. We have noticed as many of you that flights are getting more and more expensive. After some research here you can see some of the reasons that this has happened.
As it always happens in the market the higher the demand for the product is, the more expensive it gets. Airlines cut routes and frequencies, operating at only 20% or less of their normal capacity. Now that the worst of the pandemic appears to be behind us, people want to travel and experience everything they lost over the past two years. This has increased the demand for plane tickets as never seen during pandemic times. So with more and more people wanting to travel again, the prices get higher and higher.
Moreover, after the conflict between Russia and Ukraine, a steady rise in crude oil prices has been exacerbated, over the last 18 months. Jet fuel now accounts for up to 38% of an average airline’s expenses, up from 27% in the years leading up to 2019. It can be as high as 50% for some low-cost airlines. Fuel prices have contributed to soaring inflation, which has reached its highest level since 1981 this year.
Another reason for the high prices of the tickets is the lack of staff. Over the last few years, hundreds of thousands of pilots, flight attendants, ground handlers, and other aviation workers have lost their jobs. With travel picking up, the industry is now unable to hire at a rate fast enough to maintain operations at pre-pandemic levels. It is hard to get the staff to do multiple flights as the salary is increasing and the airlines are to able to cover that cost. That’s why the tickets are getting more expensive. Major European airports have experienced delays and cancellations due to a lack of adequate staffing. As a result, airline schedules have been disrupted, and costs have increased.
Even though most countries have eased cross-border restrictions, airlines are wary of bringing back all of their idled jets. As airlines switch to more fuel-efficient models like Airbus SE’s A380 superjumbos and Boeing Co.’s older 747-8s, this is especially true for large aircraft like Airbus SE’s A380 superjumbos and Boeing Co.’s older 747-8s. The pain is felt most acutely in Asia, which has been the slowest to ease restrictions, and where China, the region’s largest market, remains largely closed. Airlines will take time to rebuild fleets after navigating a variety of government policies for the past two years, given that many restrictions were only eased in May.