US holiday airfares jump as jet fuel nears record highs
Why it matters: Thanksgiving fares are up about 30% from a year ago, while TSA screenings are running below last year’s pace.
US travelers are facing the highest holiday airfares in years as jet fuel prices climb near record levels and airlines push more of that cost onto passengers. Jet fuel topped $4.75 a gallon this week, according to Argus, while September airfares were up more than 22% from a year earlier. Hopper estimates Thanksgiving ticket prices are about 30% higher than last year and Christmas fares are up more than 20%. Airlines said demand has held up even as fewer people pass through checkpoints. TSA screenings since April are running about 9.3 million below the same period a year earlier, but carriers including American Airlines and Southwest said stronger fares and premium demand are helping offset softer passenger volumes.