14th February 2024 Aviation / Prices
Airfares have fallen sharply with international rates down nearly a third compared to last year, according to Stats NZ.
International prices fell in December compared to the same month in 2022, prompting a prediction of further reductions to come.
Both New Zealand domestic and international airfares have fallen but it is becoming more expensive to stay overnight, according to Stats NZ.
Annual domestic air transport prices for the June 2023 quarter increased by 31.3% compared to the same period last year, according to Stats NZ’s latest Consumers Price Index.
The airline’s CEO cites rising catering costs as an example of the pressures it faces.
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After nearly three years of discounting to attract the domestic market, many operators have raised their prices this summer to cope with increasing costs.