Second Quarter 2024 Average Air Fare Decreases 2.6% from First Quarter 2024

Tuesday, October 15, 2024

BTS 48-24

The average U.S. domestic air fare decreased in the second quarter of 2024 to $382, down 2.6% from the first quarter 2024 inflation-adjusted fare of $392.

U.S. Average domestic fares 2Q 2024 Infographic

Itinerary Fares: Round-trips, but includes one-way tickets if no return is purchased.
Breakout of trip types: one-way, 40% ($271); round-trip, 60% ($470).

Fare calculations by BTS
*Based on a sample of approximately 10% of tickets sold.
Total ticket value: The price charged by airlines at time of ticket purchase.
Included: All fees and charges levied by an air carrier required for the passenger to board the aircraft. Also, additional taxes and fees levied by an outside entity at time of ticket purchase.
Not included: Fees for optional services, such as baggage fees, seat upgrades, and selecting an assigned seat on the aircraft.

Line chart showing U.S. average domestic fares in 2nd quarter 1995-2024

Inflation-Adjusted Average Air Fares
Second Quarter 2024 fare ($382):
Compared to all second quarters: Down 38.5% from the highest 2Q fare, $622 in 1999.
Compared to all quarters: Down 39.5% from the highest fare for any quarter, $632 in 1Q 1999.
Start of BTS records: Down 38.1% from 1Q 1995 ($618).
Recent high: Down 12.1% from 4Q 2019 ($435).
Recent low: Up 29.3% from 3Q 2020 ($296).
All-time low: Up 29.3% from the previous low 3Q 2020 ($296).
All-time second quarter low: Up 20.7% from the previous low 2Q 2020 ($317).

Other Revenue: In recent years, airlines have increasingly obtained additional revenue from passenger fees, as well as from other sources. U.S. passenger airlines collected 74.7% of total operating revenue of $90.7 billion from passenger fares during the six months of 2024, down from 88.5% in 1990.

Bar chart showing U.S. Average domestic quarterly fares in 4Q 2020 - 2Q 2024

Unadjusted Average Air Fares
Second Quarter 2024 fare ($382):
Trend: Down 1.4% from 1Q 2024 ($388).
Compared to all second quarters: Down 5.0% from the highest 2Q fare, $402 in 2014.
Compared to all quarters: Down 5.0% from the highest fare for any quarter, $402 in 2Q 2014.
Start of BTS records: Up 28.8% from 1Q 1995 ($297) (compared to 106.3% consumer price increase).
Recent low: Up 56.2% from 3Q 2020 ($245).
Recent high: Down 3.7% from 2Q 2022 ($397).
All-time low: Up 56.2% from 3Q 2020 ($245).
All-time second-quarter low: Up 47.5% from 2Q 2020 ($259).

Fares by Airport

Bar chart showing fares by airport group based on number of originating domestic passengers 2Q 2024

Fares by airport group:
Highest: 48 airports with 100,000-499,999 originating passengers ($393)
Lowest: 8 airports with 1.5-1.99 million originating passengers ($366)

Additional data: see Top 100 Airports or All Airports. Third Quarter 2024 average fare data will be released January 7, 2025.