Airfare pain eases as pricing power swings back to passengers after Covid

Quick Summary:

The Bloomberg World Airlines Index, which includes American Airlines Group Inc., Air China Ltd.and Deutsche Lufthansa AG, is down around 15 per cent in the past 12 months.

Greater Bay Airlines, which flies between Hong Kong and a handful of destinations around Asia, this week offered hundreds of return flights for just HK$20 ($2.56) each.

It’s a partial re-balancing of power from the post-Covid demand surge that gave airlines almost free rein over fares.

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Article Details

Category: BusinessFinance

Markets: IndiaAustraliaChinaHong KongIndonesiaQatar

Topics: Aviation industry Pricing power Air passengrs Coronavirus Airfares

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 09:10:03 (23 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 684 words

Reading Time: 4 minutes read

Sentences: 29 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21768162

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