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This Diwali season, travelers experienced a welcome respite from soaring airfares as ticket prices dropped significantly compared to the previous year. According to a report by PTI, citing an analysis by Ixigo, average airline ticket prices fell by 20-25% during the festive period. This decline can be attributed to a combination of factors, including increased passenger-carrying capacity and a recent fall in oil prices.
The report highlights several examples of flight ticket cost reductions. Notably, a Bengaluru-Kolkata flight experienced the most substantial decline, dropping 38% to ₹6,319 from ₹10,195 last year. Other routes, such as Chennai-Kolkata, Mumbai-Delhi, and Delhi-Udaipur, also witnessed significant price drops, ranging from 32% to 36%.
The report attributes the decline in airfares to the restoration of airline capacity following the suspension of Go First last year. Ixigo Group CEO Aloke Bajpai attributed the price drop to the additional capacity added since then, leading to a year-on-year decrease in average airfares across key routes during the last week of October.
Furthermore, the report acknowledges the impact of falling oil prices. Bajpai noted that oil prices have dropped by 15% this year, primarily due to rising geopolitical tensions. This decrease in fuel costs has contributed to a reduction in airfares.
However, not all routes witnessed price reductions. The report highlights that airfares on the Ahmedabad-Delhi route increased by 34% to ₹8,758 from ₹6,533. Similarly, airfares on the Mumbai-Dehradun route rose to ₹15,527 from ₹11,710. This suggests that factors beyond capacity and oil prices might influence ticket prices on specific routes.
The decline in airfares during the Diwali season provides relief to travelers seeking to take advantage of the festive period for travel. The report provides valuable insights into the factors influencing airline ticket prices and the impact of events such as the suspension of airlines and fluctuations in oil prices.
Source: Travelers rejoice! Airline ticket prices dropped 20-25% this Diwali season: Report