SAVE - Airfares edge lower in April despite increased fuel costs

2023-05-10 09:07:47 ET

Airfares decreased in the month of April despite rising fuel costs for airlines, according to the Bureau of Labor Statistics.

“Several indexes declined in April, led by the airline fares index which fell 2.6% over the month after rising in February and March,” the release stated.

The decrease for the index comes despite higher fuel costs and surging demand flagged by numerous carriers. For example, Delta ( NYSE: DAL ) recently highlighted a 30% year over year increase in adjusted fuel expense to $2.7B for the March-ended Q1.

The index now sits 0.9% below April 2022 levels, a month which marked a stark sequential increase by contrast.

U.S. carriers: American Airlines ( AAL ), Delta Air Lines ( DAL ), Southwest Airlines ( LUV ), United Airlines ( UAL ), JetBlue ( JBLU ), Hawaiian Holdings ( HA ), Alaska Air Group ( ALK ), Allegiant Travel ( ALGT ), Spirit Airlines ( SAVE ), Mesa Airlines ( MESA ), SkyWest ( SKYW ), Sun Country Airlines ( SNCY ), Frontier Group ( ULCC ).

For further details see: