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If there's anything as painfully expensive right now as buying a ticket for a concert, it's buying one for a flight.
James and Lea Ridgeway already spent hundreds of dollars on tickets to see The Cure in Ireland this summer. But they can't stomach how the cost of the flights they were planning to take has risen by thousands of dollars. They're leaning toward canceling their trip.
"The tickets are so high. It just eats up a lot of the money that we had set aside for the holiday," Lea said.
"It is very disappointing," James added.
Flying is getting more expensive, mainly due to the price of jet fuel roughly doubling since the war in Iran began. Not every fare has jumped up by thousands of dollars — the Ridgeways were planning to fly business class and make multiple stops. But on average, an international flight was about $150 higher in mid-April compared with a year earlier, according to the travel site Kayak.
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That's causing some Americans to change their travel plans, either choosing closer and cheaper destinations or not planning a trip at all.
Higher ticket prices may be here to stay
Airline tickets might not return to their prewar prices anytime soon, even if the conflict between the U.S. and Iran is resolved.
On a recent earnings call, United CEO Scott Kirby said that the company might keep some of its prices higher to improve its traditionally tight profit margins. Rep. Ritchie Torres, D-N.Y., has called on the major airlines to commit to lower prices when the war winds down.
Arlene Hogan, owner of the travel adviser company Vacays4U, said her bookings have dropped about 10% for the fall — most of her customers booked their summer trips long ago when prices were lower.
At a recent gathering she attended for travel agency owners, she said, others told her that they have noticed similar declines. "It was very eye-opening because we all had the same challenges," said Hogan, a member of the American Society of Travel Advisors. "We are all seeing a dip in bookings."
But Terry Dale, president and CEO at the United States Tour Operators Association, said his members have not reported a decline in bookings or an uptick in canceled trips. That could be because many flyers feel they can afford more expensive tickets due to a record-high stock market and their growing portfolios.
Groups without significant investments, like students, are still hopping on planes, he said, even though they are more vulnerable to economic headwinds. "There's more pause," Dale said. "But they're still traveling."
Consider the Ridgeways among those on pause. They haven't totally given up hope that they can get to Ireland to see The Cure — if ticket prices come back down.
Americans are sticking to cheaper flights and close to home
Travel advisers note a shift away from clients booking overseas travel in favor of domestic trips. International travelers face some additional challenges this summer, including fewer flight choices. Europe has been hit especially hard by fuel shortages, leading some airlines to cut back their offerings. Lufthansa has canceled 20,000 flights through October.
(Airlines based in North America have also been affected. Air Canada is temporarily cutting routes to New York City's John F. Kennedy International Airport, and United is "tactically pruning" flights during less popular times, like overnight and on Saturdays.)
Hogan said Americans are also concerned about going overseas as the wars in Iran and Ukraine continue. Instead, they're sticking to locations that feel safer.
"Hawaii is hot," Hogan said. "Even though Hawaii is an expensive destination, when you think about it. However, it gives people a sense of security because it's still the United States."
But even for domestic travelers, the decision often comes down to the cost of airfare. Lee Collins lives in Atlanta and travels a few times a year to Washington, D.C., to see his family. He thinks he might cut back on the number of those trips — as well as skip traveling by plane for vacation.
"It's going to be a staycation this year," Collins said.
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