New data indicates ticket prices are cooling off after Christmas highs.
New data shows airfares have plunged from Christmas highs, but prices remain elevated amid rising demand and lower network capacity.
This comes as competition watchdog put the sector on notice late last year, warning it would watch domestic airlines to ensure they added extra seats and flights to bring down airfares,A supply-side crunch pushed airfares much higher in the second half of last year, with airline capacity subdued to keep reliability levels in check despite bumper demand for travel after COVID-19.
The BITRE data shows its “best discount airfare” index dropping from a position of 112 points in December to 74.5 points in January. A higher index indicates higher airfares.But prices are still substantially higher this month compared to the same period last year, according to BITRE, where the best discount airfare sat at 54.1 points and restricted airfares sat at 73.2 points on the index.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New South Wales launches new, simpler online reporting system for sexual assault survivorsDistressed victims of sexual assault will now be able to make a report anonymously on a new online portal available in a dozen different languages.
Read more »
Elle Edwards: man charged with Christmas Eve murder of 26-year-oldConnor Chapman has been remanded in custody and will appear in court on Friday
Read more »
Australia to sign PNG security deal by mid-2023Anthony Albanese and his Papua New Guinea counterpart James Marape will move more quickly to pushback on China’s regional ambitions through a new bilateral agreement.
Read more »
Sometimes patronising, often affectionate — the history behind Australia and PNG's relationshipAs the leaders of Australia and Papua New Guinea meet to forge a new relationship, it's worth remembering the shared history of our colonial past.
Read more »
Why is the name of McDonald's new menu item so divisive?An age-old debate was reignited online after the fast-food giant unveiled the latest addition to its Australian menu.
Read more »