New data shows average airline fares have fallen to their lowest level in nearly 25 years, even if many passengers might not feel the relief.
A recent report from the Bureau of Transportation Statistics indicates that, when adjusted for inflation, ticket prices are at their lowest point since the government began tracking fares in 1995.
According to the report, the average domestic itinerary cost $343 in the third quarter of 2018 — a 0.4 percent decline (about $2) compared with the same quarter in 2017, and $7 less than the second quarter of 2018.
Broken down by trip type, the average round-trip ticket in the third quarter of 2018 was $417, while the average one-way fare was $249.
These figures represent base fares and do not include ancillary charges such as checked-baggage fees, seat selection fees, or other optional add-ons that airlines often collect separately.
The report also notes a shift in revenue sources for U.S. passenger airlines. In the first nine months of 2018, passenger fares accounted for 74.0 percent of total airline revenue, down from 87.6 percent in 1995, reflecting increased reliance on fees and other non-fare income.