UK travellers benefit as transatlantic fares drop

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In March, economy airfares on transatlantic routes dropped by 34 per cent on average, according to the International Air Transport Association (IATA).

The financial crisis that airlines are facing has actually been a benefit to UK travellers, as carriers have slashed fares by more than one-third in order to fill seats as the slump in air travel continues.

Passenger numbers are declining globally, outpacing airline capacity cuts, making it necessary for airlines in most regions to reduce fares in order to fill seats on their planes.

Airline customers in the UK have seen the greatest benefit so far, according to the IATA. In addition to the major reduction in transatlantic fares, economy fares on routes between the UK and the European continent fell by around 30 per cent during March.

“We have seen some of the biggest falls in average fares on the UK international markets,” said the IATA’s chief economist, Brian Pearce.

He added: “Air travel is clearly going to be a lot cheaper for passengers coming out of the UK.” However, he added that the declines seen in March should become less steep as the peak summer period begins, although fares will remain lower than last year when high fuel costs forced carriers into price increases.”

Thanks to www.guardian.co.uk for the above quotes, for more information on this article please visit their website.

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