IATA
22 November 2024
This report presents trends in airfares, jet fuel prices, and consumer prices from January 2015 to August 2024. It serves as a practical reference for airlines, regulatory authorities, and other industry professionals by offering a clear view of historical price changes.
Airfares have risen at a slower pace than consumer prices (measured by the Consumer Price Index, CPI) over the past decade. This indicates that air ticket prices have not fully kept up with inflation, especially in comparison to jet fuel costs, which have significantly outpaced consumer inflation. Jet fuel currently accounts for about 30% of airlines’ operating costs, and it is the largest and most volatile expense category. When airfares fail to keep pace with inflation, and with jet fuel prices in particular, it means that airlines absorb part of the cost increases on their margins rather than passing them fully onto consumers.