Common airfare hit a file low within the third quarter of final 12 months with the pandemic-driven decline in journey.
The common U.S. home airfare was $245 within the July-to-September quarter of 2020, based on figures launched Tuesday by the U.S. Division of Transportation.
That is the lowest common quarterly airfare on file, primarily based on inflation-adjusted information going again to 1995, and marked a virtually 30% decline from $349 a 12 months earlier. The third quarter common fare was additionally down from $262 within the second quarter of 2020, which was the earlier low.
For home flights departing from Hartsfield-Jackson Worldwide Airport, the common airfare within the third quarter of 2020 was $250.26, down from $362.13 a 12 months earlier, based on the division’s Bureau of Transportation Statistics.
The drop in airfare got here as airways struggled to draw passengers. The variety of passengers was down about 68% within the third quarter in contrast with the identical interval a 12 months in the past. Knowledge from Transportation Safety Administration checkpoints present that passenger counts at airports are nonetheless down greater than 60% on many days.
Airways have struggled all through the pandemic, however a second spherical of federal stimulus grants and loans ought to assist. Atlanta-based Delta Air Strains obtained a $1.4 billion installment final Friday. That is a part of $2.9 billion in payroll assist funds Delta is because of obtain from the U.S. Treasury Division this quarter, in trade for two.1 million shares of Delta inventory.
The DOT’s common fares are primarily based on round-trip itineraries, however the information additionally embrace one-way tickets if no return fare is bought. About 55% of the fares have been for spherical journeys.
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