Article

2022-08-30 Economy

Airline Ticket Sales Unexpectedly Tumble

[ZERO] One of the big drivers of inflation during the late spring and early summer was - in addition to the relentless meltup in energy and commodities - the surge in airplane ticket prices amid seemingly endless demand, as millions of Americans were willing to pay anything after two years of quarantine, just to go travel anywhere and feel normal again.

But now that prices have more than caught up with travel enthusiasm, demand is tumbling, and as BofA airline analyst Andrew Didora writes today, system net sales (i.e., total bookings) took a sizable step back this week to -23.6% vs 2019 for the week ending 8/21 (compared to last week’s down -9.3%) the biggest drop since February. System volumes and pricing decelerated to -23.5% vs 2019 (vs -11.5% last week) and -0.1% vs 2019 (vs +2.5% last week).

Posted by Besoeker 2022-08-30 01:08|| || Front Page|| [11127 views ] Top

#1 Once again reserved for the wealthy and well-to-do.

Posted by Besoeker 2022-08-30 01:20|| 2022-08-30 01:20|| Front Page Top

#2 Capitalism works. Increased demand drives up costs, which drives down demand. Not unexpected at all, surely.

Posted by trailing wife 2022-08-30 01:33|| 2022-08-30 01:33|| Front Page Top

#3 Roses are green
And rising seas blue.
Regression to mean
Is too mean! So are you!

Posted by Glomose Sproing5591 2022-08-30 02:42|| 2022-08-30 02:42|| Front Page Top

#4 Soon we will be hearing how the airlines need yet another bailout.

Posted by Chris 2022-08-30 07:30|| 2022-08-30 07:30|| Front Page Top

#5 'Worst airline in North America': Harry Potter star Matthew Lewis slams Air Canada and its overbooking policy after staff 'tore up' his first class ticket and bumped him to economy 'without saying a word'

Posted by Skidmark 2022-08-30 07:48|| 2022-08-30 07:48|| Front Page Top

#6 Are the airlines still tossing infants and their parents off planes overs masks?

Posted by M. Murcek 2022-08-30 07:53|| 2022-08-30 07:53|| Front Page Top

#7 Treat your customer base like cattle going off to market and then wonder why they don't buy your tickets? /rhet question

Posted by Procopius2k 2022-08-30 08:27|| 2022-08-30 08:27|| Front Page Top

#8 Furious travellers endure a 20-hour wait on the airport floor in Bermuda after being 'abandoned in the middle of the Atlantic' when American Airlines flight AA38 from Miami to London diverted because of a mechanical issue

Posted by Skidmark 2022-08-30 08:31|| 2022-08-30 08:31|| Front Page Top

#9 The pandemic paychecks put a lot of lowlife bus riders on to planes, resulting in a lot drunken brawls.

Equilibribum is being restored

Posted by Regular joe 2022-08-30 15:30|| 2022-08-30 15:30|| Front Page Top

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