Diwali Air Fare Prices Drop: Travelers across India have reason to rejoice this Diwali season, as average airfares on many domestic routes have seen a significant drop of 20-25% compared to the same period last year, according to a recent analysis by travel portal ixigo. The analysis revealed that one-way airfares, based on a 30-day advance purchase date (APD), have decreased due to increased flight capacity and a recent dip in oil prices.
Capacity Increase and Lower Oil Prices Lead to Fare Reduction
Last year, airfares during the Diwali period (November 10-16) surged due to limited capacity, especially after the suspension of Go First airline. However, this year, more airlines have added capacity, leading to a drop in ticket prices during the Diwali week (October 28-November 3).
“Additional capacity and lower oil prices, down 15% this year, have contributed to a 20-25% drop in airfares across key domestic routes,” said Aloke Bajpai, CEO of ixigo Group, to PTI.
- Major Routes Witness Significant Fare Drops
Some of the most notable fare reductions include a 38% decline in ticket prices for Bengaluru-Kolkata flights, which dropped to ₹6,319 from ₹10,195 last year. Similarly, Chennai-Kolkata airfares fell by 36% to ₹5,604 from ₹8,725, while the popular Mumbai-Delhi route saw a 34% drop to ₹5,762 from ₹8,788.
Other routes with significant reductions include Delhi-Udaipur, which witnessed a 34% decrease to ₹7,469 from ₹11,296, and Delhi-Kolkata, Hyderabad-Delhi, and Delhi-Srinagar, each experiencing a 32% reduction in fares.
Geopolitical Tensions and Oil Prices Impacting Future Trends
While current oil prices remain slightly higher amid rising geopolitical tensions, Bajpai indicated that the 15% decrease earlier this year may have also played a role in driving down airfares, providing travelers with more affordable options during the festive season.
However, the report also highlighted that airfares on some routes have increased by up to 34%, showing a mixed trend in pricing.
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