It's getting more expensive to fly on a commercial airline, according to a published report.
The Los Angeles Times reports that air travel is becoming increasingly expensive as oil prices continue to hover around $100 per barrel and demand jumps. What's more, airlines are also contributing to the price hikes as they are enforcing strict limits on the number of passengers and flights they book.
During the first three months of this year, the average domestic airfare hit $247, which represents a 10 percent uptick from the same period the year prior. The global recession that struck in 2007 wreaked havoc on airlines' bottom lines, and the last time average ticket prices hit such high levels was during the first three months of 2008 when they averaged $233 per ticket.
The outlook is not good for business and leisure travelers, affirmed American Express Global Business Travel research director Christa Degnan Manning. She told The Times that data indicates ticket prices could continue their upward trajectory.
"If I shook my magic eight ball to the question, 'Are the prices business travelers are expected to pay this summer going up?' the answer would be, 'All signs point to yes,' " Manning said. "It will likely be true compared to the prices they paid last year and the year before that."
The Los Angeles Times reports that air travel is becoming increasingly expensive as oil prices continue to hover around $100 per barrel and demand jumps. What's more, airlines are also contributing to the price hikes as they are enforcing strict limits on the number of passengers and flights they book.
During the first three months of this year, the average domestic airfare hit $247, which represents a 10 percent uptick from the same period the year prior. The global recession that struck in 2007 wreaked havoc on airlines' bottom lines, and the last time average ticket prices hit such high levels was during the first three months of 2008 when they averaged $233 per ticket.
The outlook is not good for business and leisure travelers, affirmed American Express Global Business Travel research director Christa Degnan Manning. She told The Times that data indicates ticket prices could continue their upward trajectory.
"If I shook my magic eight ball to the question, 'Are the prices business travelers are expected to pay this summer going up?' the answer would be, 'All signs point to yes,' " Manning said. "It will likely be true compared to the prices they paid last year and the year before that."
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