SAVE - Airline fares fall 19% in June from a year ago

2023-07-12 08:55:48 ET

Airline fares in the U.S. fell 18.9% in June compared to a year ago on an unadjusted basis. Overall, core inflation cooled to a 4.8% year-over-year pace during the month.

On a month-to-month comparison, air fares fell 8.1% in June after declining 3.0% in May, retreating 2.6% in April, and dropping 6.5% in March, according to data compiled by the Bureau of Transportation Statistics.

Analysts said the downward trend in fares is due largely to lower fuel prices and a healthier overall cost basis for carriers. Indications have been that booking demand remains strong, particularly with the corporate and international channels still recovering from the pandemic slowdown. Delta Air Lines ( DAL ) kicks off the earnings season for the sector on Thursday.

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

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