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The cost of airfare is out of this world.
Airline fares have skyrocketed 2.2% just from last month, according to the Bureau of Labor Statistics (BLS). In fact, prices were up a whopping 26% in June just from the previous year.
The price hikes can be attributed to a few factors: rising fuel costs from the war with Iran, labor and pilot shortages, supply chain bottlenecks and high demand from a red-hot summer. Not to mention, the budget-friendly Spirit Airlines was forced to shut down operations back in May, wiping out one of the largest low-cost carriers.
“Put all that together, higher costs, more people chasing fewer seats with less competition, and you get exactly the fares we’re seeing right now, which has led to eight straight months in a row of airfare climbing,” Anna Brown, travel expert at Going, told The Post.
As the travel season is still in high gear and flyers look ahead to book for the holidays, get ready for some shocking ticket prices.
Brown revealed that Thanksgiving fares are already 19% higher than last year, with winter prices around 16% higher.
“We’ve seen this movie before — prices keep climbing until demand finally gives out, and demand rarely gives out over the holidays,” Brown said.
But costs could actually drop if you’re flying out of a lucky city.
Some prime passengers may actually see savings if they book flights at one of three airports. According to a report from travel app Going, a trend was spotted — airports and airlines offering the top flight deals are ones with high competition.
The tech travel company — that offers customers discounted airfares and rare mistake fares — took that data and analyzed thousands of flight deals it sent to consumers over the past year, covering over 200 US airports and 500 destinations.
The number one factor impacting prices is airline warfare.
The report found consumers who purchased tickets from airports at one of three cities — Denver, New Orleans and Orlando — consistently saw the cheapest flights.
Denver took the top spot, offering the best domestic deals because of some stiff airline competition at Denver International Airport. Three companies — United Airlines, Southwest Airlines and Frontier Airlines — are all duking it out for customers, which ultimately drives down costs.
New Orleans came in second with Southwest Airlines and Breeze Airways fighting for flyers at Louis Armstrong New Orleans International Airport. Third place went to Orlando, as tourists make their way to Mickey at Disney, flying through Orlando International Airport.
The data revealed that those planes need flyers for their return flights — which means more available seats to keep prices down for Orlando residents.
“Denver, New Orleans and Orlando got there in different ways, but the throughline is the same in that more competition means lower fares,” Willis Orlando, flight expert at Going, said. “In Denver, United and Southwest are locked in a fare war with Frontier.”
On the flip side, Kahului Airport in Maui and Anchorage’s Ted Stevens Anchorage International Airport are the two with the least amount of deals. Data revealed that both spots saw fewer than two deals per week — and have an average ticket price of over $500.
Going said it’s because competition is in short supply.
For international travelers, the tech travel company said Boston, New York and Newark will offer up the best deals. This is primarily because Boston, JFK and Newark are all the country’s “primary East Coast gateways to international travel,” Orlando said.
“Boston’s proximity to Europe makes it a strong pick for transatlantic deals, and its JetBlue base adds a steady stream of Caribbean fares on top of that. JFK and Newark complement each other on international coverage,” Orlando added.
The top airline for deals on domestic flights was American, edging out Delta and Southwest. United came in fourth, but ultimately it was a tight race. The travel experts said while American is not typically the preferred carrier, their falling ticket prices tell a different story.
So what happens if you don’t live near one of the favorable cities? Brown told The Post, be willing to pivot.
“If you don’t see your home airport on the list, start by tracking nearby winning airports and stay flexible; sometimes the real savings come from just hopping in the car or on a train to a nearby airport instead of your own,” Brown said.
The travel guru also said to embrace the “deal first, destination second” mindset.
“Let the price tell you where to go instead of the other way around. That’s usually where the biggest savings are hiding,” Brown told The Post.
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