The Airlines Reporting Company (ARC) announced that air ticket sales in the United States came in at $5.4B last month. Year over year this is a 253% since last February, and ticket sales are up almost 50% month over month.
The ARC shared some insights on some of the future prospects of the aviation industry. The ARC stated that ticket prices have been fluctuating due to the crises across the globe, and also shared that the US economy domestic fares last summer fell almost 30% between July and September.
The previous peak for U.S Air Ticket Sales during the pandemic was in November 2021 where it reached $4.4B. As soon as the Omicron variant took effect, it impacted the industry’s recovery. However, the market is back on track on the right path as total passenger trips rose 21% between January 2022 and February 2022, and domestic trips and international trips rose by 17% and 28% respectively.
ARC Vice President of Global Sales Steve Solomon provided a statement about the situation. “Leisure demand nearing pre-pandemic levels and accelerated corporate travel bookings fueled another strong month of sales. With the U.S. domestic travel market steadily rising, we are monitoring the war in Europe and its impact on the strong international travel growth to start the year.”
There is much sentiment that the aviation industry is experiencing an evident rebound and recovery, and the numbers as shown prove to be such. That said, the dark days of the aviation industry are nearing an end.