What do you think makes ticket prices so high, especially from the US and CA to the EU?
While there are several factors that cause the price of air tickets to fluctuate, it is the exchange rate and the price of fuel that stand out more than others. In South Africa, ticket prices were always adjusted at midnight on Tuesday however, this has changed recently to occur daily at midnight to keep up with frequent variations in currency fluctuations worldwide – all GDS’ are now required to adjust ticket prices daily to align with universally accepted standards as prescribed by IATA regulations. The daily adjustment is a significant reason for travel agents to help their customers avoid potential price hikes by paying for their flights on the day the booking is made.
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It is the demand. The higher the demand, the fewer cheap flights. Also, fuel prices have an impact on the increase of flight prices.
There are several reasons why ticket costs are so expensive, particularly from the United States and Canada to the European Union.
HIGH DEMAND: Due to the attractiveness of European locations for leisure and business travel, there is a strong demand for flights from the United States and Canada to the European Union. Prices rise as a result of the increased demand.
FUEL COSTS: The cost of gasoline is a significant element in airline rates. Fuel prices have been growing in recent years, contributing to increased airfares.
AIRLINE CONSOLIDATION: In recent years, the airline industry has consolidated, with a few giant carriers now dominating the market. Because of this consolidation, competition has decreased, allowing airlines to charge greater tickets.
GOVERNMENT TAXES AND FEES: Government taxes and fees can also increase the cost of an airline ticket. These taxes and fees vary per country, but they may be substantial.
PEAK TRAVEL TIMES: Peak travel periods, such as the summer holidays and around Christmas, often have higher ticket costs. This is due to increased demand for flights during certain periods.