High airfares are here to stay
If you’re planning a big overseas trip in the first half of 2024, you might want to throw in some more leg days at the gym to strengthen your hip pocket muscles… International airfares are set to stay high just as Aussies get on a ‘revenge travel’ roll, taking bigger, longer trips after being cooped up during the pandemic. Airlines continue to operate fewer flights than before the pandemic, and rising fuel prices and inflation are adding to high-priced fares. Qantas chairman Richard Goyder told shareholders last week that the airline has absorbed most of the increased cost rises but decided to increase fares last month by 3.5%. That and other uncomfortable issues were aired at the company’s AGM on Friday, which saw one of Australia’s largest-ever protest votes against executive pay. Goyder said it was a “very clear message” that was “matched by our determination to restore confidence and trust”.
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