Thanksgiving air travel in the U.S. is expected to rise 3 percent this year with 25.3 million people hopping planes, the most crowded the skies have been since the Great Recession. The good news for travelers is that airfares have been on a distinct decline since summer, according to a forecast released Thursday by industry group Airlines for America.
Chicago’s O’Hare International, a popular connecting airport, will be among the busiest in the nation, ranking third behind Atlanta and Los Angeles.
The increase in passengers nationwide during the 12-day Thanksgiving travel period from Friday, Nov. 20, through Tuesday, Dec. 1, amounts to an average of more than 60,000 additional passengers per day.
“To accommodate the increase, airlines have boosted schedules and seat availability, largely through bigger planes and additional flights,” said airline group spokeswoman Jean Medina.
The busiest travel days in ranked order are expected to be Sunday, Nov. 29; Monday, Nov. 30; and Wednesday, Nov. 25. The lightest travel days will be Thanksgiving, Nov. 26, and Friday, Nov. 27.
Domestic fares declined in seven of the first nine months of the year most dramatically since May, the airline group reported. In August, for example, fares were 6.8 percent lower than the same month the year before. Fares in September were down 5.6 percent year over year.
Despite declining fares, airlines remain profitable, with an average profit margin of 15.6 percent, thanks to relatively full planes – aircraft are at 84 percent on average – and lower fuel prices, down 37.1 percent year over year so far in 2015.
The industry group says airlines are funneling some of their profits into buying new planes and upgrading service. Capital expenditures for the first nine months of 2015 totaled $12 billion, the highest rate of investment in at least 15 years, the group reported.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
