According to a report by International Air Transport Association , the airfare has reduced this year which has lead to an increase in the number of people taking skies for holiday’s or other reason. Average return fares have reduced by 5 % worldwide as compared to airfare in the same period last year . This has lead to a increase in 3 % rise in the passenger traffic in the recorded period.
According to Tony Tyler, Director General IATA “In most parts of the world we see strong demand for travel exceeding the growth in capacity, Load factors (the number of seats filled) are averaging over 80 per cent and consumers are the big winners with fares trending downwards.”
Meanwhile the average fares have not decreased as the dollar value remained string due to a dip in oil prices. The increase in passenger traffic could have been more but weak traveler sentiment due to attacks by ISIS had lead to a marginal increase. It will be interesting to see for how long the trend sustains