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. stocks falling amid AI worries and weak earnings

U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.

Published

1 day ago

February 13, 2026

Harvey Vargas

U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.

U.S. stocks are tumbling as investors grow concerned over AI profitability and disappointing earnings. Defensive sectors are attracting attention ahead of the upcoming CPI report, while market participants are carefully watching how tech-heavy AI stocks are influencing broader indices. Steve Gopalan from SkandaFX notes that these factors are shaping market sentiment.

For traders, commodities like gold and oil are also playing a role in sentiment, providing hedges amid market uncertainty. The January jobs report and unemployment data are adding further context, with potential implications for Federal Reserve policy.

Market expectations for rate cuts are shifting as investors weigh economic indicators against global market dynamics. Traders are also eyeing currency movements, including the Australian Dollar and Japanese yen, for signs of broader economic trends.

Money

Wall Street tumbles as tech stocks face AI disruption fears

Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.

Published

1 day ago

February 13, 2026

Harvey Vargas

Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.

Wall Street took a sharp hit as tech stocks plummeted amid growing investor anxiety over artificial intelligence. Markets reacted strongly to uncertainty about how AI could disrupt major sectors, leaving investors on edge. Kyle Rodda from Capital.com explains why investors are nervous about what’s ahead.

Cisco Systems’ quarterly results added to the market jitters, while defensive sectors gained attention as investors sought safer bets. Analysts describe 2026 as a ‘prove it’ year for AI, with companies needing to demonstrate real returns on their ambitious investments.

The January Consumer Price Index report and rising concerns over AI’s impact on transportation companies further weighed on sentiment. Investors are now closely watching major tech firms for signals on how AI spending will shape future market performance.

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Money

U.S. jobs report, Fed decisions, and Japan’s economic risks explained

January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

Published

2 days ago

February 12, 2026

Harvey Vargas

January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

The January US jobs report shows a mixed picture for the economy, with payroll revisions and steady unemployment leaving analysts questioning the impact on Federal Reserve policy. We break down what the numbers mean for interest rates and market confidence.

US stock markets could face turbulence as investors digest the latest jobs data. David Scutt from StoneX explains how these figures may influence equities and what the outlook is for global markets.

Meanwhile, developments in Japan and a strengthening yen could spark new macroeconomic risks. From carry trades to unexpected shocks, we explore how these factors ripple across the global economy.

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