US airfares fall 7.4 pct. in 4Q of 2009, marks largest year-over-year decline since 2001
By APWednesday, May 19, 2010
Government says US airfares fell in 4th quarter
NEW YORK — Average airfares in the U.S. fell 7.4 percent in the last three months of 2009, the biggest year-over-year decline since 2001, the Transportation Department’s Bureau of Transportation Statistics said Wednesday.
Airfares in the fourth quarter of last year were also the lowest for that three-month period since 2006. But fourth-quarter fares were up 4.2 percent compared with the third quarter.
Airlines were still struggling with low passenger demand in the last three months of 2009, although the fourth quarter is typically a strong period that includes Thanksgiving and Christmas. Prices have generally increased so far in 2010.
The fare calculations don’t include fees for baggage or other extras paid for at the airport or onboard.
The average fare in the fourth quarter was $319. That’s down from an all-time high of $358 in the third quarter of 2008.
