International air fares in Germany down 3% in Q1 of 2024

After several quarters of significant price rises, airfares in Germany have started to fall according to new data released by the National Statistics Office. Trent Murray has the details.

According to the Federal Statistics Office (Destatis), economy class tickets have become significantly cheaper, with passengers paying 15.8% less for flights to Central America, 12.3% less to Asia and Australia, and 7.4% less to North America.

In contrast, tickets to European destinations rose by 2.7%, while flights to Africa increased by 4.1%. Domestic flight prices also saw a slight rise of 0.2%.

Overall, international flight prices remain high since the lifting of COVID-related travel restrictions, being 20.9% higher in the first half of this year compared to the same period two years ago, Destatis reported.

Airfares in Europe and Asia have started to stabilize or decline, indicating that the post-COVID travel boom may be slowing, presenting challenges for airlines facing rising costs and limited aircraft availability.