Airports Forgotten at the Gate as Airlines Enjoy Soaring Ticket Prices
Key Highlights :
The COVID-19 pandemic has caused a multitude of economic struggles, but one industry that has been able to rebound quickly is the airline industry. With the travel lockdowns in place, airlines have seen a surge in ticket prices, resulting in a quick recovery for major carriers. According to corporate travel manager American Express Global Business Travel, a typical New York-to-Hong Kong flight in economy class is more than twice as much this year as it was in 2019, and almost a third more than last year. This has allowed airlines such as British Airways owner IAG SA, Dubai’s Emirates, and Singapore Airlines to report record earnings, with Australia’s Qantas on course to follow suit.
However, while airlines are reaping the benefits of the high ticket prices, airports feel they have been forgotten at the gate. The International Air Transport Association’s annual meeting this week will likely highlight the issue, as airports are looking for ways to increase their revenues and profits. Airlines have been able to capitalize on the tight capacity going into the peak season, as well as customers willing to upgrade to more expensive tickets.
The rising ticket prices have caused a strain on travelers, with many unable to afford the costs associated with flying. This has caused some to look for other means of transportation, such as trains, buses, and cars, to get to their destination. To offset the high costs, some airports have implemented rewards programs for frequent flyers, as well as discounts for those who book in advance.
Despite the rising ticket prices, airports still remain an important part of the travel industry. They provide a safe and secure environment for travelers, as well as an efficient way to get to their destination. Airports also provide a variety of services, such as restaurants, retail stores, and other amenities that are important to travelers.
The soaring ticket prices are lining the pockets of the world’s biggest airlines, but airports have been left out in the cold. As the industry takes off, airports are hoping to be remembered at the gate. With travelers looking for ways to offset the high costs, airports are looking for ways to increase their revenues and profits, while also providing a safe and secure environment for travelers. In the end, it is up to airports to find a way to make flying more affordable for everyone.
