Airline Ticket Prices Fall 19 Percent Amid Less Demand, More Flights

Statistics Canada says airfares have plummeted over the past year, as airlines shore up capacity even while consumers think twice about travelling in a world of higher costs. In its consumer price index (CPI) on Nov. 21, the agency said the price of air transportation dropped 19.4 percent last month compared with October 2022. The figure follows a roughly 21 percent year-over-year drop in September and a 20 percent decrease in August, after rampant post-pandemic demand last year outstripped carriers’ capacity to meet it, resulting in sky-high fares. The data also showed airfares declined four percent on a monthly basis in October, when they typically rise ahead of the holiday season....