Airfares skyrocket as people look to get away this holiday season

Published

3 years ago

December 12, 2022

William Howard

Airfares skyrocket as both fuel prices and demand reach record levels

It’s that time of year, when everyone wants to get away and enjoy the festive season.

But if you’re looking to get on a plane, be prepared to pay a whole lot more.

Airfares have skyrocketed and, unfortunately, there doesn’t seem to be an end in sight.

The Australian Competition and Consumer Watchdog’s recent review found ticket prices are around 27 per cent higher than they were just 12 months ago.

As an example, fares from Adelaide to Gold Coast are up 156 per cent from $374 to $958, while Melbourne to Perth is 146 per cent higher, sitting at $1078.

Now, Qantas boss Alan Joyce has commented on the price hike.

Speaking to The Sydney Morning Herald, Joyce said the sky-high fares are due to a rang of factors including increasing fuel prices.

Fuel prices skyrocket

The airline’s fuel bill in the year-to-date has hit $5 billion mark – the biggest fuel bill the company’s ever had.

On top of this is the unprecedented consumer demand.

Understandably, following two years of Covid lockdowns and restrictions, people are desperate to get away on that long-awaited holiday.

“It’s at unbelievable levels internationally and domestically because people were locked up for so long,” Joyce said.

While this can be expected, no one predicted just how rapidly demand would rebound to exceed 2019 levels.

“Supply is difficult because, like every airline, it’s been hard getting those aircraft back in the air and the combination means that air fares are higher,” Joyce said.

So is there an end in sight?

Well, supply chain issues should begin to ease in 2023.

“Airbus and Boeing are telling us the supply chain issues should be fixed by the end of next year, which will get more planes in the air and airfares will come down as a consequence of that.”

But, more broadly, the Qantas boss believes the global situation remains too volatile to predict. This is particularly true given the ongoing war in Ukraine.

So, for now, we’ll just have to get used to paying more for a getaway.

U.S. and China approve TikTok sale to American investors

US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.

Published

2 days ago

January 23, 2026

Harvey Vargas

US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.

The United States and China have officially approved a deal for TikTok’s US operations to be sold to American investors, led by Oracle and Silver Lake.

This marks a major shift in the social media landscape as the platform navigates increasing regulatory scrutiny.

Under the new agreement, ByteDance will retain just under 20% of TikTok US, while Oracle and Silver Lake will each take 15% stakes. Other investors will also participate, forming a structure designed to satisfy both commercial and regulatory demands.

The new US-based entity will have a majority American board tasked with overseeing data protection and content moderation. Despite these safeguards, concerns remain about ByteDance’s influence and whether the deal fully complies with recent legislation.

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#TikTokSale #USChinaDeal #Oracle #SilverLake #ByteDance #TechNews #SocialMedia #DataProtection

Money

Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide

U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.

Published

4 days ago

January 21, 2026

Harvey Vargas

U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.

U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.

The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.

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#USMarkets #WallStreet #TrumpTariffs #GlobalMarkets #USDebt #Europe #Davos #Ticker

Money

Gold hits record highs as investors flee risk

Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.

Published

5 days ago

January 20, 2026

Harvey Vargas

Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.

Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.

The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.

Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.

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#GoldRally #SafeHaven #InvestingTips #FinancialMarkets #GoldPrices #GlobalEconomy #MarketUpdate #TickerNews