India-UK Flight Tickets At Upto 87% Discount From These Airlines! Check Date Of Travel, Rules & More
Markets are unpredictable. They can move in any direction at any point in time. But there are certain rules based on which their behavior can be predicted. The most basic law in economics is the law of supply-demand and its effect on prices. The basic rule says, higher the demand, lower the supply, the prices will go up! No rocket science behind that, right? But the current variations in flight prices in between India and UK will give mind-numbing to people well versed with these laws as well.
Rise in Demand lead to a rise in prices
Airfares between India and UK have soared to the range of Rs 1.2 lakh to 1.5 lakh for flights in the rest of August. But in the mid of next month, fares of Etihad, Turkish Airlines, and Emirates are much lower – between Rs 20,000 and Rs 35,000.
The fares have skyrocketed to Rs. 1.2 Lakh to Rs. 1.5 Lakh as demand rose suddenly following the decision of the UK government to move India from its “red list” to the “amber” category. This decision opened up the possibility for Indians to travel to the UK without the mandatory 10-day quarantine at the hotel.
The increase in demand led to air tickets increasing from about Rs 50,000-Rs 70,000 before August 8 to between Rs 1,18,344 and Rs 1,48,355 for the rest of August.
The same journey is available at around 80% less prices but in next month
In the middle of September, Etihad Airways’ cheapest flight to the UK is currently on offer for around Rs 19,093. Following the same pattern, Turkish Airlines’ most cost-effective flight to the UK is currently being offered for around Rs 33,679. Emirates is offering flights at very low rates for mid – September, its cheapest flight for around Rs 34,387.
According to Market Expert at Goldman Sachs even though airfares have risen to very high levels on the back of low availability, most customers have completed bookings at prices lower than the current rates.
The expert notified that the current airfares were unsustainable for customers as bookings are unlikely to be completed at these levels.