Air bookings fall in US after 47% year-on-year fare hike – Money Times

At Domestic airfare Are rising very fast United States Forcing some people to drop summer travel plans.

According to data released on Tuesday, online bookings in May fell 2.3% year-on-year, signaling that rising airport seat costs are destroying some of the travel requirements. Adobe Analytics.

“The fall in bookings shows that some consumers are reconsidering their interest in catching the plane, especially those who delay travel plans during epidemics, even though some consumers can tolerate higher fees,” said Vivek Pandya, chief analyst at Adobe. Digital Intelligence is a unit of software developer Adobe.

Domestic rates have risen 47% so far this year and have surpassed the 2019 levels for four months – contributing to the rise in overall US inflation. Adobe brings together consumer transactions of between six and 150 billion internet visits in the top 10 US airlines.

Bookings for domestic travel between June and August are down 2% compared to the end of May 2019. However, the cost of showing the higher fares charged by airlines has risen by 11%.

Pandya said online shopping rose to $ 8.3 billion in May, showing a “significant shift” in consumer spending on goods and services. This represents a 29% increase over three years ago, although bookings have increased by only 4.4% since 2019.

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