What are the alternatives?

Introduction

For the past year or two, the international airfares to and from Providenciales have been extremely exorbitant. These fares sometimes range from $1,000 and up. The ironic thing is not just restricted to the major airlines but all the airlines including the low-cost airlines.

Many of us want to know why these airfares are so high now. Do you remember after many countries lifted the travel ban; many airlines were offering lower rates to entice people to travel due to the low demand. Nowadays, the demand for international travel has increased and customers are facing these high costs.

Why the airfares so high?

There are many reasons why the airfares are so high. One of the primary reasons is the increase in the price of oil. As a result of the Ukraine/Russian war, the price of oil has increased and so the airlines reflect that increase in the price of ticket as they must recover their costs. Another reason is inflation. Inflation is driving the increase in cost for everything including the price of a ticket. The law of demand and supply theory also contributes to the increase in airfares. As mentioned in the introductory, the demand for international travel has increased but the supply of airlines has decreased resulting in higher prices. You see some of the airline companies have retired some of the old aircraft and the production and release of new aircraft general is taking long.

Why are the airfares still cheaper from other destinations?

Despite the above reasons, then why does it appear that the airfares from and to Jamaica, Bahamas and DR appear to be lower than to and from the Turks and Caicos. This prompted me to enquire about this scenario. Based on my enquiries from some individuals in the airline industry is that the reason why the airfare is higher is that those seats we see selling for $1,000 or more are premium seats and business class seats. Furthermore, I was told that our fights to and from Turks are almost full and only premium seats are available. I still cannot comprehend this logic. The only thing that makes sense to meet is that these seats were purchased far in advance and so the flights became fill. The question is though when this happened because for the past year or two, the prices have been high.

Will prices go down soon?

I wish I knew whether the prices would go down soon. However, based on the reasons why the price increases, if the opposite takes place, then yes price will go. If we were to experience recession, the prices will go down. However, we have been experiencing inflation for a long time. Of course, these economic cycles are seasonal, but we just don’t know when it will end. Also, if the demand decreases and the supply increases, the price will go down.

What are the alternatives?

There are some alternatives. A few people told me they purchased a ticket from Turks to the Bahamas, or the Dominican Republic and then purchased an airline ticket from those destinations to their final destinations and they were able to save on the fare.

Another thing I would recommend you to do is enrolled in those credit cards with reward points. You can use those points to get a ticket. To achieve that, you need to use your rewards credit card as chequing account.

Another thing to do is check around different travel sites for good airfares. Also plan your trips in advance and hopefully you can find some deals.

Finally, if the cost is too high, and you cannot afford it, don’t travel.

Conclusion

I know many people like to travel and some must travel whether for business and medical. However, the cost is so high. Some may say that the Government should do something about these high airline prices. In the meantime, though, consider some of the alternatives mentioned in this article.