After significant price increases in Germany last year, holidaymakers enjoyed 3.1 per cent lower prices for flights abroad in the first six months 2024 compared to last year’s period, the statistics office said on Tuesday.
Economy class tickets in particular were significantly cheaper, with passengers paying 15.8 per cent less for flights to Central America, 12.3 per cent less to Asia and Australia, and 7.4 per cent less to North America, the Federal Statistics Office (Destatis) said.
Tickets to destinations within Europe, on the other hand, were 2.7 per cent more expensive and to destinations in Africa 4.1 per cent costlier. Prices for domestic flights increased 0.2 per cent.
Airbus increased its 20-year demand forecast for jetliners due to airlines upgrading fleets and Asia’s growing economies boosting air travel. The planemaker predicts the global fleet will double to 48,230 planes, with deliveries of 42,430 new aircraft. Strong growth is expected in Asia and the Middle East, led by India and China. Airbus sees improved single-aisle plane performance transforming transatlantic travel and predicts rising demand for wide-body jets. The report also addresses environmental concerns by highlighting the contribution of new jets to lower emissions.
Overall, prices for international flights have remained high since the end of the COVID-related travel restrictions: they were 20.9 per cent higher in the first six months this year than in the same period two years ago, Destatis said. Airfares around Europe and Asia have started to plateau or fall, signaling that a prolonged post-COVID travel boom is waning and delivering a setback for airlines struggling with higher costs and limited aircraft availability.
Germany’s Lufthansa cut its profit target the second time this year in July, struggling with cost challenges after high wage settlements and operational issues including delivery delays from planemakers Airbus and Boeing.
