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Airfares skyrocket as people look to get away this holiday season

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3 years ago

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Airfares skyrocket

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.

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William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Aussie job market defies expectations with stable 4.1% unemployment rate

Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.

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3 days ago

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June 20, 2025

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Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.


Australia’s unemployment rate held firm at 4.1% in May, despite a small drop of 2,500 jobs—falling short of forecasts.

But dig deeper: full-time jobs jumped by nearly 39,000, underemployment hit post-COVID lows, and female participation reached a record 60.9%.

With labour market resilience still strong, the Reserve Bank is unlikely to be swayed—though markets see an 80% chance of a July rate cut.

The RBA remains in a balancing act, cooling inflation, without choking growth.

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#RBA #JobsData #AustraliaEconomy #Unemployment #InterestRates #LabourMarket #tickernews

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Central banks struggle with economic uncertainty and rates

Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

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3 days ago

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June 20, 2025

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Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

In Short:
Central banks are grappling with economic uncertainty, prompting various interest rate cuts globally to stimulate growth. Many central banks, including those in Norway, Sweden, and Japan, are adjusting rates in response to inflation and trade concerns, while others like the Federal Reserve and the Bank of England are considering future cuts.

Central banks are facing significant uncertainty concerning economic growth and inflation, making their policy decisions increasingly challenging as they approach the end of their rate-cutting cycles.

This uncertainty is also impacting investors. Recently, Norway’s central bank surprised markets with an interest rate cut, while the U.S. Federal Reserve cautioned against relying heavily on its policy projections.

The Swiss National Bank responded to decreasing inflation and economic unpredictability by reducing its benchmark rate to 0% but may consider further cuts. The Bank of Canada has maintained its rate at 2.75%, suggesting a potential future cut in light of tariffs affecting the economy.

Sweden’s central bank cut its key rate as well, aiming to stimulate growth amid weak price pressures.

In New Zealand, expectations are for rates to remain steady after a recent reduction to protect its economy from global trade uncertainties. The European Central Bank has also cut rates, considering further adjustments to meet inflation goals.

The Federal Reserve is keeping rates steady, although further cuts are anticipated due to low inflation. In Britain, the Bank of England held rates but may continue cuts in response to weak labour indicators.

The Reserve Bank of Australia is prepared for rate cuts due to weak growth data and trade tensions, while Norway’s central bank has been cautious with its recent decision. The Bank of Japan remains the only bank in a tightening phase, balancing escalating tensions and tariff concerns with its monetary policies.

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Fed signals slower cuts amid rising risks

U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.

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4 days ago

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June 19, 2025

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U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.


At its latest meeting, the U.S. Federal Reserve revised its economic forecasts downward, with growth trimmed, inflation nudged up, and unemployment expectations now higher.

Despite this gloomier outlook, the Fed still sees two rate cuts in 2025, but just one in 2024 and one in 2026, a major dial-back from earlier projections.

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#FederalReserve #InterestRates #JeromePowell #Inflation #USEconomy #FedMeeting #tickernews

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