The average round-trip airfare in 2013 (through Q3) was $383.32, an increase of less than $2 (and less than 0.50%) from the average fare in 2012 of $381.56.
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The cost of airfare in the US has dropped in the past 10 years, after adjusting for inflation. The average domestic flight costs $359 today, while in 2010, the average price was $336, or $392 in today's dollars.
Back in 1975, things were simple. All fares were refundable and bundled with a plethora of services. According to a contemporary edition of the OAG North American Edition, the cheapest unrestricted one-way flight on American Airlines cost $138 including taxes.
Domestic airline prices are on the decline in 2023, finally retreating after spiking just a year ago. International fares are still high. After soaring in 2022, prices for domestic airline tickets are on the descent.
This high demand is one factor driving the rising costs, with passengers willing to pay higher prices and many airlines still not back to running their pre-pandemic number of flights. Mr Boland said huge demand for holidays have combined with inflationary pressure to create a “perfect storm of spiralling costs.”
Despite being known as the golden age of air travel, flying in the '50s was not cheap. In fact, a roundtrip flight from Chicago to Phoenix could cost today's equivalent of $1,168 when adjusted for inflation.