Airfares were already dropping. Here’s why they could go even lower in 2024

By SALLY FRENCH of NerdWallet

U.S. airfares are, on average, 15% lower now than they were a decade ago, and 6% lower than this time last year. The same cannot be said for many other purchasing categories where prices are increasing due to inflation. Some experts believe airfare could continue to drop, especially for international travel. There are a few reasons for the price decrease, such as an increase in both route availability and number of flights. For example, Delta Air Lines will launch its largest-ever transatlantic schedule for summer 2024. There are also new low-cost carriers increasing competition.