The latest report from the American Automobile Association forecasts a record number of Americans will be flying during the upcoming 10-day holiday stretch spanning from December 23 to December 28.
“Airports are expected to be the busiest they’ve ever been over the Christmas and New Year’s travel period,” AAA wrote in the report.
AAA expects 7.5 million air travelers this holiday season, exceeding the 2019 level of 7.3 million. This figure is set to surpass AAA’s record for the period, with data going back to 2000.
According to AAA booking data, average ticket prices are slightly down from last year:
“The average price for a roundtrip ticket to Orlando this holiday season is $613, down from $735 last year. A roundtrip ticket to Las Vegas is $508 now compared to $705 in 2022.”
“It depends on your desired route and destination. There are last-minute deals to be found, but if your preference is a nonstop flight with seat selection, AAA recommends booking well in advance and protecting your investment with travel insurance,” said Paula Twidale, Senior Vice President of AAA.
AAA’s forecast comes after the Transportation Security Administration announced that the Sunday (November 26) after Thanksgiving was the busiest day for air travel ever.
Data via Bloomberg shows the number of people passing through TSA security checkpoints that Sunday reached 2.9 million, surpassing pre-Covid levels (2019) and hitting a record high. Checkpoint data has since fallen but is expected to begin ramping up mid-next week.
Despite the ramp-up in air travel, airline stocks have failed to rally and remain at Covid lows. This lackluster performance is mainly attributed to waning ‘revenge travel’ and increased fuel costs, squeezing airline profit margins.
So far, Transportation Secretary Pete Buttigieg has managed not to screw up this holiday season.
Tyler Durden
Tue, 12/12/2023 – 05:45
