Air passengers may find a reason to celebrate this Diwali season, as average airfares on several domestic routes have decreased by 20-25% compared to the same time last year, according to a recent analysis.
Factors contributing to this decline include increased flight capacity and a recent drop in oil prices. An analysis conducted by travel portal ixigo reveals that average one-way fares on domestic routes have fallen within this range, based on a 30-day advanced purchase date.
For 2023, the relevant period for analysis is November 10-16, while for last year it was October 28-November 3, aligning with the Diwali season.
The largest decrease in average airfare is observed on the Bengaluru-Kolkata route, which saw a drop of 38%, with fares falling from Rs 10,195 last year to Rs 6,319 this year. Similarly, the Chennai-Kolkata route experienced a 36% reduction in ticket prices, down to Rs 5,604 from Rs 8,725.
The average fare for the Mumbai-Delhi flight has decreased by 34%, now at Rs 5,762 compared to Rs 8,788 previously. The Delhi-Udaipur route also saw a 34% drop, with fares falling from Rs 11,296 to Rs 7,469. There were 32% declines in fares for the Delhi-Kolkata, Hyderabad-Delhi, and Delhi-Srinagar routes.
“Last year, airfares surged around Diwali due to limited capacity, particularly following the suspension of Go First airline. However, this year we are seeing some relief as additional capacity has been added, leading to a 20-25% year-on-year decrease in average airfares for key routes in the last week of October,” said Aloke Bajpai, CEO of ixigo, in a statement to PTI.
He also noted that the decline in oil prices, which have dropped by 15% this year, could be another factor contributing to the lower airfares, providing travelers with more affordable options during the festive season.
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