May is here and as with every year; this month kicks off the summer travel season. With the Memorial Day holiday on the horizon, expectations are that the industry will face another record-breaking year. This comes on the heels of what was seen as a record-breaking Spring Break season. The travel industry is booming and that could potentially turn into less-expensive travel for customers.
The conversation starts with the airline industry. Several major airlines are expecting a busy season. United Airlines reported a strong first quarter and forecasted that momentum to continue into the second quarter of 2024, even as controversies around Boeing continue to rise in the media.
“On demand, we see continued positive momentum in bookings across all customer segments from the most price-sensitive customers to domestic road warriors and up to the premium global customer,” CEO Scott Kirby said.
American Airlines released similar news this week. That airline is projecting to service more than 72 million customers between May 17 and September 3. The company report also states that 690,000 flights are planned for that timeframe, with July 7 being the busiest day of them all. The company predicts 10 percent more departures compared to summer 2023.
As business surges and companies are looking for new ways to charge customers along the way, this summer season looks like it will be nicer to travelers’ pockets. Hopper released its summer forecast the first week of May, and that report saw a drop in airline ticket prices. The first price drop for the airline industry since 2020, which was also the year that COVID-19 brought travel to a screeching halt. According to the Hopper report, domestic airfare prices are expected to average out to $305, compared to $324 in 2023, and $294 in 2022.
Travelers must take advantage of these resources when planning their summer trip. There are many destinations that will be crowded with travelers, and some hidden getaways for those looking to relax. Based on your travel preferences, resources like the Hopper report will help you plan every step of the way.
2024 is shaping up to be an exciting year for the travel industry. Airline agencies are expecting packed airports, which will trickle down to the hotel and short-stay industries and beyond. Customers must make sure their dollar goes the furthest, and there are resources out there to help with planning along the way.