Photo Credit: TravnikovStudio / Shutterstock
The airline industry is finally returning to normalcy after COVID-era safety restrictions and protocols upended air travel in the U.S. and around the world. Airline passenger traffic in the U.S. decreased an astounding 96% in April 2020 compared to the year prior, impacting not only commercial travel, but all of the industries that support it.
Nearly four years later, America’s appetite for air travel has rebounded and the industry is returning to business as usual. COVID-related public health protocols have been rescinded, international air travel restrictions are easing, and domestic passenger volume surpassed pre-pandemic levels in 2023. But while air travel conditions have improved, high ticket prices remain a major concern for travelers in 2024.
U.S. Trends in Round-Trip Airfare
After rising sharply during the pandemic, round-trip airfare is starting to decrease | Image Credit: Upgraded Points
The cost of a round-trip flight decreased significantly at the onset of the pandemic, reflecting a reduced demand from travelers during the uncertain times. Between Q4 2019 and Q3 2020, the average ticket price for a round-trip flight fell by more than 33%, from $426 down to $284. However, as travel restrictions eased and public health recovered, airfares rebounded to a peak price of $495 in the second quarter of 2022. The 74% price increase for round-trip fares reflects the revived demand and widespread inflation during that period, including elevated jet fuel prices.
Commercial flight prices eased slightly in 2023, decreasing to $449 in Q3 2023. While the average round-trip ticket price nominally sits above pre-2020 prices, airfares are actually lower than any point prior to the pandemic after adjusting for inflation.
Airfare Increases at Primary Hub Airports
Small hub airports saw the biggest year-over-year increase in airfare | Image Credit: Upgraded Points
Airfares may have stabilized 2023, but some airports saw their average round-trip ticket price significantly rise, with small hub airports seeing the biggest year-over-year increases. Four of the five airports where prices are increasing the most are small hubs—or airports that receive 0.05%–0.25% of annual U.S. commercial enplanements. Long Beach Airport (LGB)—located roughly 20 miles southeast of Los Angeles International (LAX) and serving the same general area—saw the largest percentage increase at 16.2%. Myrtle Beach International (MYR), Manchester Boston Regional (MHT), and Rogue Valley International – Medford (MFR)—all small hub airports—all have seen round-trip airfare increases of over 12%.
Additionally, airports found in popular vacation destinations like Miami International (MIA), Key West International (EYW), and Reno/Tahoe International (RNO) also saw significant ticket price changes, with average ticket costs rising by 8.2%, 6.9%, and 6.6%.
Changes in Airfare by State
35 states experienced year-over-year increases in average airfare | Image Credit: Upgraded Points
There are also regional differences when it comes to airfare, with 35 states experiencing year-over-year increases in round-trip ticket prices. Less populated states and those without a major airport experienced more significant increases. New Hampshire experienced the largest increase, with a 13.5% rise in average airfare. North Dakota and West Virginia had the second and third highest growth, rising by 10.1% and 8.7%, respectively. Meanwhile, more populated states with major cities and airports like New York (+2.9%), Illinois (+2.7%), and California (+1.4%) experienced minimal changes.
Below is a complete breakdown of airfare changes for more than 250 airports in the U.S, grouped by size. The analysis was conducted by Upgraded Points using data from the U.S. Bureau of Transportation Statistics. For more information on the data, see the methodology section.
Large Hub Airports With the Biggest Increase in Airfare This Year
Medium Hub Airports With the Biggest Increase in Airfare This Year
Small Hub Airports With the Biggest Increase in Airfare This Year
Nonhub Airports With the Biggest Increase in Airfare This Year
Methodology
Photo Credit: TravnikovStudio / Shutterstock
In order to determine the airports with the biggest increase in airfare this year, researchers at Upgraded Points analyzed the latest data from the U.S. Bureau of Transportation Statistics’ Airline Origin and Destination Survey. The researchers calculated the percentage change in average ticket price for round-trip itineraries from the first three quarters in 2022 to the same period in 2023. In the event of a tie, the airport with the greater total change in average round-trip ticket price during the same time span was ranked higher. Both nonstop and connecting itineraries were included in the calculations, while bulk fares, itinerary fares less than $50, and itinerary yields (itinerary fare per miles flown) greater than $3 were all excluded from the analysis.
For complete results, see Airports With the Biggest Increase in Airfare This Year on Upgraded Points.
