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Flights are set to drop in price as the cost of kerosene fuel, used to power planes, falls. One air boss said the price of fuel ‘tends to have an impact on pricing’
The price of flights is set to fall(Image: Getty Images/iStockphoto)
Holidaymakers are set to enjoy cheaper flights as the cost of jet fuel plummets.
Kerosene fuel which is used to power airplanes has been falling in price as the cost of crude comes down.
Willie Walsh, director-general of the International Air Transport Association (Iata), said: “It’s typically our single biggest cost, so it would help to offset any weakening demand if we were to witness a slowdown.
“It also tends to have an impact on pricing.
“There’s almost a direct correlation between the price of oil and the price of airline tickets.”
Mr Walsh added that lower ticket prices often sparks more demand but also “clearly drives down the overall revenue for the industry”.
Your holiday could cost that little bit less(Image: Getty Images)
Global aviation chiefs are meeting in India’s capital Delhi to discuss the state of the industry.
It comes after oil briefly crashed to a four-year low below $60 a barrel in April after oil body Opec and its allies announced they would triple their scheduled output.
Elsewhere, a growing number of holidaymakers are swapping Benidorm for Bosnia as part of a social media craze.
Sunseekers are also shunning Malaga for Macedonia and other places that offer Instagram-friendly scenery for a smaller budget.
New figures show flights from the UK to Bosnia and Herzegovina rocketed by 284% last year, while trips to Montenegro surged by 164% and visits to Albania soared by 61%.
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