Stagflation Indicator? U.S. Airline Bookings Dropped 17% in April as Flights Got Even More Expensive

From CNBCposted 2 weeks ago

Article Summary

.S. airline bookings dropped 17% last month from March, according to a report from Adobe published Thursday, one of the first signs of cooling demand for air travel as ticket prices surpass pre-pandemic levels.

Consumers spent $7.8 billion on domestic tickets in April, down 13% from the previous month, according to the report.

Air travel has been resilient in recent months despite the highest inflation since the early 1980s. Prices on everything from gasoline to groceries to travel have shot up. The new data suggests consumers are starting to back off buying tickets.

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