Airline ticket prices are on the increase. Average ticket price bottomed out in May, this year having reached 10 year lows. Inexpensive airfares are still available, but may not be for much longer.
According to DOT (the U.S. Department of Transportation Department) average domestic airfare prices in the second quarter were at their lowest level for a quarter since 1998. Prices dropped 13% from the same quarter in 08, which the DOT reported was the largest year to year decline on record.
Beginning in June, domestic air travel saw its first increase of the year.
FareCompare, an airfare tracking company reported that airlines attempted three fare increases in the month of October alone. The final price increase in October ranged from a $6 - $10 roundtrip increase announced by AirTran, which was matched for similar routes by Continental, Delta, United and US Airways. This was the sixth fare increase of 2009, all since June.
In the spring, leisure fares were trending down 21% from last year, but as of early November are down only 4% compared to 08.