Air travelers may be in for some good news as airfare prices are set to become a bit more affordable. A recent report from the Consumer Price Index indicates that several airlines are attempting to attract customers by reducing costs.
In March, airfare decreased by 5.3% compared to the previous year, following a 4% drop in February.
Airlines attribute the declines to weak demand and economic uncertainty, as consumers express concerns over job security, inflation and ongoing trade disputes.
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Major carriers, including Southwest Airlines, United Airlines, and Delta Air Lines, are also cutting back on flight schedules in anticipation of lower sales among vacationers this summer and fall.
The trend is not limited to domestic travelers; the number of international visitors has fallen by 5% compared to last year.
For those seeking travel deals, now may be an opportune time to search for discounted airfare.
But if they are flying Southwest soon, they may have to look out for a fee that they aren't used to. The airline said it will begin charging for checked bags for flights booked on or after May 28. The move puts Southwest in line with other major airlines, such as Delta, United, and American, which have charged for checked bags for many years.
