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COVID-19, the global airline industry and the impact on travel demand in 2020 and into the future

Dollar Flight Club analyzed airfare and industry data using millions of data points from  both 9/11 and the Great Recession of 2008 to predict how the COVID-19 outbreak will affect travelers and airlines when the world opens back up to travel in 2020 and beyond.

The past few years have really been the golden age of travel. It had never been cheaper to fly internationally. Throughout 2019, the team at Dollar Flight Club regularly saw flight deals from the US to Europe in the $300s/$400s roundtrip which is roughly 60% less than what we saw in the 1950s. "However today, we're seeing even cheaper fares and airlines are offering free change and cancellations for any travel booked in the future, which has never happened. What we're telling our customers is that they should book flights now for future travel because prices are going to be as cheap as you've seen since 2001 – it's essentially risk-free booking".

"We just ran a study where we analyzed flight data from the airline industry fallout post 9-11 and the 2008 financial crisis to predict how COVID-19 will affect airfare prices. We found that airfare prices will decrease by 35% on average through 2021. As an example, for 2020/21 holiday (Christmas/NYE) and summer flights, historically low fares up to 65% off were available as of Friday this week.

  • Los Angeles to London – $329 roundtrip
  • Los Angeles to Barcelona – $303 roundtrip
  • Chicago to Paris – $278 roundtrip
  • Chicago to Buenos Aires – $378 roundtrip
  • New York to Athens – $289 roundrip
  • New York to Bali – $313 roundtrip"

"Based on our recent survey, the most in-demand domestic destination for summer and holiday travel is Hawaii, and the most in-demand international destination is Paris. We expect that these are the two destinations that will get the bulk of the first round of post COVID-19 travelers this summer and into winter holidays."

See the surveys by Dollar Flight Club here and here.

 

Vicky Karantzavelou
Co-Founder & Chief Editor - TravelDailyNews Media Network | Website

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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