Post-Brexit Air Travel Trends Emerge
A new airfare trend has emerged since the Brexit vote for the United Kingdom to leave the European Union. The price of tickets for travel to the UK and Europe have dropped markedly, which periodically results in surges of airline bookings.
Airlines have been discounting tickets heavily, to maintain passenger volume. Round-trip prices from the United States to the UK and Europe are down about 14 percent from this time last year, and down 22 percent from this year's high point in May. Current round-trip prices from a typical U.S. gateway average $746 to Europe and $802 to the UK.
The new trend appears to respond to two key factors: First, the value of the dollar and other currencies has risen in relationship to the British pound since the Brexit vote. Second, the specter of terrorism in Europe has discouraged potential travelers.
Immediately after the Brexit vote, airline bookings to the UK from all regions increased, with North America exhibiting the biggest increase. Bookings have declined, however, since mid-July.
Airlines such as American, Delta and United are planning on reducing trans-Atlantic capacity in their winter schedules.
Content sourced from the article "Airfares to Europe and U.K. Drop as Airlines Hunt for Traffic," by Ted Reed.
Photo courtesy of Visit Britain/James McCormick.