It’s that time of year when you might think you’ll be priced out of jetting out of town by rising air fares.
Normally that would be the case–but this year, the market is saying something quite different.
“It’s something you don’t expect–especially right before heading in to the summer” said FareCompare’s Billy Sanez, pointing to recent decisions–in the last week–made by both Southwest and Frontier to cut their fares. Many major airlines have already decided to match.
“I think what we’re seeing is less people are traveling. That’s probably why they’re lowering their fares–less people for the supply they have” Sanez told KTSA News. He said it might be the result of what was an aggressive strategy by the airlines for raising fares earlier this year.
“It could be that fares that were raised at the beginning of the year may have been a little too much–so, the airlines are reacting to it” Sanez said.
As for what lies ahead… that’s anyone’s guess.
“We don’t know, because of this volatility we see back and forth” Sanez said.