The airline industry is taking a hit with airline fares rising 19 percent between March and April, led by factors such as higher jet fuel prices and more travelers flying post-pandemic, says a report from Adobe published on May 12.
Pilot shortages and increasingly random flight cancellations have also led to a reduction in service.
Surging demand, coupled with a 30 percent rise in aircraft fuel prices since the Russian invasion of Ukraine, is sending airfares upward as the industry heads into the summer travel season.
Adobe’s data suggests that rising inflation has forced many consumers to back off from purchasing airline tickets.
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