The past two years have been nothing short of severe for the travel business, especially the airlines. Fortunately, it looks like luck is turning. Barney Harford, President and CEO of Orbitz Worldwide, says that the airline sector appears to be on the mend, at least for business travel. Consumers, on the other hand, aren’t buying back in as aggressively, as high fares are battling with continued economic constraints for wallet share.
The average airfare for domestic travel is up 10 percent, according to Hartford, with international fares surging 17 percent. He notes to CNBC:
“We are seeing … a moderation in the increases in air tickets that we were seeing in perhaps May and June, where we saw some really stronger increases in air tickets,” Harford went on to say. “We’re hopeful that we’ll see an increase in capacity in the airline sector, which will drive some moderation in (the price of) airline tickets.”
Nonetheless, you can still find some bargains out there, according to Hartford. Look for the best values in Caribbean destinations.
[photo by emrank via Flickr]