Gone are the days of low cost air travel. Domestic air travel in India has become dearer by 29 per cent in the second quarter (Jul-Sep) of this financial year compared to the same quarter last year as the average overall ticket prices for both domestic and global travel rose by 9 per cent, according to a American Express Business Travel Monitor quarterly study.
According to the study, airfares have soared mainly because of increase in travel demands, steady rise in inflation, reduction in capacity and flight network disruptions leading to reduced supply in the market.
According to the study, domestic fares witnessed a considerable increase of 29 per cent. While the Q-o-Q domestic fares rose by 29 per cent, the year-over-year increase was 11 per cent,it said.
The fares from India to Europe, Middle East and Africa (EMEA) region as well as Intra-Asia Pacific fares saw a 5 per cent rise, while those to the Americas overall witnessed a marginal increase of 2 per cent and full business airfare to this region remained flat.
In the last quarter, India had observed a strong 5 per cent rise in airfares for both Intra-Asia Pacific and EMEA destinations with a significant hike of 13 per cent in business class fares for Intra Asia Pacific Travel quarter on quarter.
Amex business travel monitor tracks a set of round trip airfares originating in the Asia pacific region to 370 city pairs across the world. Ten countries – Australia, China, Hong Kong, India, Japan, South Korea, Malaysia, New Zealand, Singapore and Taiwan are covered.
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