Travelers have reasons to celebrate this Diwali as airline ticket prices have dropped significantly compared to last year. According to a report by PTI, citing an Ixigo analysis, the average cost of airline tickets has fallen by 20-25% due to increased passenger-carrying capacity and a reduction in oil prices. The surge in capacity this year, following the suspension of Go First airline in 2023, has resulted in more available seats, leading to lower ticket prices.
Falling Oil Prices Contribute to Decrease
A key factor behind the falling airfares is the 15% decrease in oil prices this year. Aloke Bajpai, CEO of Ixigo Group, mentioned that rising geopolitical tensions contributed to the dip in oil prices, which helped bring down airline operating costs. Consequently, ticket prices have been reduced across various key routes during the festive season.
Major Airfare Reductions on Key Routes
Several domestic flight routes have seen remarkable reductions in ticket prices this Diwali season. Below is a table showing the significant drop in fares:
| Route | 2023 Price | 2024 Price | % Drop |
|---|---|---|---|
| Bengaluru-Kolkata | ₹10,195 | ₹6,319 | 38% |
| Chennai-Kolkata | ₹8,725 | ₹5,604 | 36% |
| Mumbai-Delhi | ₹8,788 | ₹5,762 | 34% |
| Delhi-Udaipur | ₹11,296 | ₹7,469 | 34% |
| Delhi-Kolkata | ₹7,500 | ₹5,100 | 32% |
| Hyderabad-Delhi | ₹6,500 | ₹4,500 | 32% |
| Delhi-Srinagar | ₹8,500 | ₹5,780 | 32% |
These one-way fare prices are based on a 30-day advance purchase, with the travel window between November 10-16, 2024.
Factors Behind Airfare Increases
Despite the overall drop in prices, some routes have experienced fare increases. For instance, airfares on the Ahmedabad-Delhi route rose by 34%, and the Mumbai-Dehradun route saw a spike of 32%. The fare hike on these routes can be attributed to different market dynamics and regional demand.
Bright Spot for Diwali Travelers
With reduced airfares across most major routes, this Diwali season brings a much-needed financial reprieve for travelers. As additional passenger capacity and lower oil prices continue to influence the market, many domestic passengers can now enjoy more affordable travel during the festive season.
