Canadians are paying almost 20% more for airfares than they did at this time in 2019.
The latest StatsCan airfares report says prices for plane tickets in Canada are up 19% from where they stood in the summer of 2019.
The government agency says airfare costs rose 2% year-over-year in June. That follows a 4.5% year-over-year increase in May.
“The pricier fares stem partly from limited competition and flight capacity among airlines, which more than offset softening demand since the post-pandemic travel boom,” Canadian Press reports. “National Bank analyst Cameron Doerksen says fares have risen for most of the year — including on key domestic routes — following an 11-month stretch of year-over-year declines, mainly in 2023.”
Doerksen told CP that WestJet may need to lower its prices in the short term to lure back customers after a two-day mechanics strike that prompted more than 1,300 flight cancellations and upended plans for at least 170,000 travellers.
