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Five reasons it’s so expensive to travel right now

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We’ve been waiting years to go on holiday, but wow it’s expensive to fly. Here are the five reasons it’s so expensive to travel right now

Remember the good old days of competition in the travel industry? Those were the days. Now every time you look to book a flight, the prices are soaring. Even if you want to use your points.

The airline industry is complex, so a total shut down of the industry was always going to have long term effects. The long hangover from the shutdowns and lockdowns are with us.

So let’s break down the five key reasons your flight is so expensive.

“Revenge travel”

It’s not just you who wants to go overseas and change up the scenery. Everyone else is thinking the same thing.

And as the northern hemisphere enjoys its first lockdown free summer in years, everyone is clamouring to use all that saved up cash, topped up with government assistance, to spend on flights.

The simple supply versus demand philosophy means it’s become an airline’s dream to push up prices while often pushing down the value of the ticket. How bad are those airline meals at the moment?

Big planes are grounded

Remember the good old 747 and A380s? Well you’re doing well to find a 747 in the skies these days. The last remaining airlines that were operating them used the cover of COVID to either reduce their fleet of the ageing Queen of the Skies, or retire them altogether.

Then there’s the A380, which is integral to huge airline flees like Emirates.

They were first to go into storage in the desert in 2020 as the pandemic hit. Airlines noticed its often cheaper to fly two 787s on the same route as an A380. So they are begrudgingly bringing the super jumbo back, but only once all their 787s are back in service first.

Don’t you just long for the days of extra space on a plane?

Rocketing fuel prices

In some cases, spot prices for aviation fuel has soared to 80 per cent! Airlines usually rely on hedging fuel prices (as in locking the price in in advance). But not many carriers in Asia do that, meaning they are at risk of fluctuating oil prices.

Airlines have a simple strategy for dealing with rising fuel prices – passing the cost on to consumers. Some passengers flying out of Asia are finding that a flight to London in economy is now $5000, five times the price.

The war in Ukraine hasn’t helped matters either, with Russian oil now missing from the global supply chain. That’s pushing up the cost of resources everywhere, and there’s no sign that’s about to end.

Lack of staff

Airline staff get COVID too, and in some (hilarious) cases, front line staff are returning to stop working from home!

Airlines have rules in place regarding how many flight attendants and pilots need to be on board an aircraft. And with so many different types of planes in service, some flight attendants can only work on certain aircraft types.

That severely limits the capability of airlines to quickly man aircraft in an emergency. And one cancellation snowballs into a travel nightmare.

Airports are struggling too. Lack of maintenance at baggage carousels and airport equipment means some airports are relying on just one vehicle to help every plane back out of a gate.

Remember when the pandemic hit and airlines sacked thousands of workers? The airlines didn’t think they would need them all back so quickly, and highly skilled pilots went on to find other, perhaps more stable jobs.

Accountants taking over

Airlines are big businesses with gigantic overheads. Think of the cost of a plane, which often reaches over $300 million.

Then add the cost of airports, fuel and staff.

Qantas had a debt bomb of $6.5 billion at the height of the pandemic, and while governments have been throwing money at airlines to stay in business, they still are a business.

Airlines need to make a profit, they need to return value to shareholders, and they need to pay down debt to stay financial. Not to mention cashflow.

So regardless of the airport queue, or the soggy sandwich you’re eating in business class, think of the balding accountants praying for good news.

And keep your eye out for some bargains. It’s not all doom and gloom. Some airlines are even allowing you to burn your points on upgrades. So why fly economy?

And if you can hang on a few months longer, you might enjoy cheaper fares. But no promises.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Tech

Stylish shades with future tech and Meta products

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Meta hosted a two-day virtual event, Meta Connect 2023, on September 27-28, focusing on AI and virtual, mixed, and augmented realities.

The event featured presentations, lightning talks, and immersive experiences, giving attendees an insight into the latest advancements and innovations.

 

Unveiling Meta Quest 3 and Meta Smart Glasses

One of the highlights was the unveiling of the much-anticipated Meta Quest 3 and Meta smart glasses. Mark Zuckerberg, the Founder and CEO of Meta, along with special guests, introduced Meta Quest 3 and elucidated how Meta is pushing the boundaries of mixed reality.

Meta’s foray into smart glasses with a partnership with Ray-Ban showcased their commitment to expanding the realms of reality. The smart glasses promise hands-free communication and a seamless integration of the digital and physical worlds.\

Delving into Meta’s Technological Vision

The event delved into the technological vision of Meta with presentations like “Building the Future” by Michael Abrash, Chief Scientist at Reality Labs, and Andrew “Boz” Bosworth, CTO and Head of Reality Labs. They discussed Meta’s groundbreaking research in contextual AI, neural interfaces, and ultra-realistic codec avatars, fundamental to the future of computing.

Developer Ecosystem and AI Innovations

A significant aspect of the event was the “Developer State of the Union,” providing developers a platform to explore new tools, programs, and features across AI, VR, MR, AR, Meta Horizon Worlds, and Meta Avatars. Additionally, the event highlighted AI innovations through “AI, Llama and more” lightning talks, showcasing Meta’s recent AI developments and tools.

Immersive Experiences in Mixed Reality

On the second day, attendees had the opportunity to explore mixed reality experiences and the potential of Meta Quest 3 through a “Meta Quest and Mixed Reality” lightning talk. This session provided insights into the cutting-edge capabilities and business strategies that drive this next-generation product.

Meta Horizon Worlds: An Immersive Meta Experience

Meta Horizon Worlds, an immersive experience inspired by Meta’s Menlo Park campus, allowed participants to explore a virtual world and even experience Mark Zuckerberg’s keynote in 3D. Attendees could engage with others in Meta Horizon Worlds experiences and earn exclusive rewards.

 

 

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The surge of urban surveillance

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Major cities witness rise in surveillance measures, with increased reliance on Closed-Circuit Television systems.

In recent years, bustling metropolises such as New York, Melbourne, and London have experienced a substantial surge in the deployment of CCTV cameras. These cities are wholeheartedly embracing advanced surveillance technologies, driven by the need to enhance public safety, deter criminal activities, and monitor high-traffic areas effectively.

The proliferation of CCTV networks signifies a response to the evolving security requirements of urban environments, aiming to provide real-time monitoring and swift response capabilities.

However, this upswing in surveillance has ignited significant debates concerning privacy, civil liberties, and the potential misuse of personal data. Striking a delicate balance between security measures and individual rights has become imperative. Notably, some supermarkets in Australia have taken a proactive approach by equipping their staff with body-worn cameras to deter potential incidents of theft, abuse, or untoward behaviour within their premises.

In the realm of home security, Eufy, originally known for vacuums, has transitioned into a high-tier home security supplier. Eufy has introduced a groundbreaking security package with the remarkable ability to seamlessly track a single person across multiple cameras.

Their innovative approach enables effortless tracking of an individual as they move across various cameras within a property. This advancement promises continuous insights into movements and activities, significantly boosting safety measures and streamlining response efforts to potential security threats or incidents.

Despite these upgrades accompanying the rapid digitisation of surveillance systems, CCTV networks face a growing threat from cyber attacks. These digital security risks lay bare the vulnerabilities of these crucial surveillance infrastructures. Hackers can exploit weaknesses in the network, gaining unauthorised access to live feeds, compromising data, and potentially causing disruptions in surveillance operations.

These escalating urban surveillance statistics prompt contemplation on the delicate balance between privacy and security. While CCTV proves effective in deterring crime and enhancing public safety, concerns about privacy and civil liberties persist and are continuously raised.

It seems to be crucial thing that companies continue to navigate this landscape thoughtfully, ensuring that the advancement of surveillance technologies is paralleled with safeguards for individual rights and privacy.

 

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Tech

SAG-AFTRA members back a video game industry strike

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Game on! With clear resolve to strike a deal, union readies to recommence negotiations armed with authorisation.

In a resounding display of solidarity, members of the Screen Actors Guild‐American Federation of Television and Radio Artists (SAG-AFTRA) have endorsed a video game strike authorisation vote with an astonishing 98.32% voting in favour.

The SAG-AFTRA agreement which covered video game performers expired last November and has been extended on a monthly basis as the union negotiated with major video game companies.

The vote was initiated to address issues related to fair compensation, transparent contracts, and improved working conditions for video game voice actors and performers and is an extension of has been unfolding in Hollywood recently.

The resolute decision by the members empowers SAG-AFTRA to negotiate with video game production companies for better terms that adequately value the contributions of performers in this burgeoning sector. The resounding mandate highlights the urgency and importance of addressing the grievances and achieving a fair and mutually beneficial resolution.

 

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