Airfare development 2019-2024 – Regional and sub-regional outlook for airfares
Using a US-dollar-based index produced by IATA (International Air Transport Association), the recovery in airfares through 2024 has been outlined for four regions (Africa & the Middle East, Americas, Asia Pacific and Europe) and their various sub-regions.
IATA’s index covers the airfares paid by all travelers, combining both business and leisure travelers. It does not explicitly reflect movements in the fares paid for corporate travel. For each of the regions, this report outlines IATA’s latest predictions for airfare movements in 2023.
It also plots the evolution of airfares from a pre-pandemic 2019 base out to IATA’s forecasts for 2024.
The keymessages from this analysis are:
- In 2024, airfares in Africa & the Middle Fares should have reached a level one-fifth above 2019 pricing
- In the Americas, the South America sub-region is trailing the general rebound in airfares
- In Asia Pacific, Northeast Asia has lagged the wider regional rebound in pricing
- By 2024, airfares in both European sub-regions should have progressed to 15% above their pre-pandemic level