Air Ticket Prices to Drop Between February and April
Global average ticket prices (ATP) for air bookings will drop to around $673 by April, down just over 4 percent from February levels, according to a forecast from CWT Solutions Group, the consulting arm of CWT. Prices have seen a sharp increase in the first two months of the year. In its bi-monthly Air Trends Report, CWT Solutions said global ATP climbed about 6 percent month-on-month in January, then a further 3 percent in February, to reach $702. This was largely the result of airlines around the world implementing new commercial policies and revenue management models, which pushed up airfares. Christophe Renard, vice president, said the company foresees a continued upward trend in the ATP through 2019. Renard said travel managers should stress the importance of booking in advance to keep a handle on costs. He said it’s also important to ensure that online booking tools are properly set up to reflect an organization’s travel policy, or to configure these tools with bespoke settings for each market.