2023 Annual Average Domestic Air Fares Decreases from 2022

BTS 18-24

Fourth Quarter 2023 Fares Increase 4.6%, Adjusted for Inflation, from Previous Quarter

The 2023 annual average domestic itinerary air fare of $382 decreased 3.1% from the 2022 inflation-adjusted annual fare of $394.

Annual Air Fares

Inflation-adjusted
Annual 2023 fare: $382
All years: Down 36.4% from the highest fare for any year, $600 in 2000
Start of BTS records in 1995: Down 34.7% from 1995 ($584)
Recent high: Down 10.1% from 2018 ($424)

Unadjusted
Annual 2023 fare: $382
From previous year: Up 0.9% from 2022 ($378)
All years: Down 3.8% from the highest fare for any year, $396 in 2014
Start of BTS records in 1995: Up 30.6% ($292) (compared to 99.9% consumer price index increase)
Recent low: Up 30.54% from 2020 ($292)

Fare calculations by BTS
Itinerary Fares: Round-trips but include one-ways if no return is purchased.
Breakout of trip types: one-way, 39% ($274); round-trip: 61%, ($466).

Based on a random sample of 10% of tickets.
Total ticket value: The price charged by airlines at time of ticket purchase.
Included: All fees and charges levied by an air carrier required for the passenger to board the aircraft. Also, additional taxes and fees levied by an outside entity at time of ticket purchase.
Not included: Fees for optional services, such as baggage fees.

Fourth Quarter 2022 Air Fares

The average U.S. domestic air fare in the fourth quarter of 2023 was $385, increasing 4.6% from an inflation-adjusted third quarter 2023 fare of $368.

Adjusted for inflation (constant 2023 dollars) the average 4Q 2023 air fare was:

• Up 6.4% from 4Q 2021 ($361)
• Up 4.6% from 3Q 2023 ($368)
• Down 9.6% from 4Q 2019 ($426)
  

Itinerary Fares: Round-trips, but includes one-way tickets if no return is purchased.
Breakout of trip types: one-way, 39% ($274); round-trip, 61% ($468).

Inflation-Adjusted Average Air Fares
Fourth Quarter 2023 fare: $385
Compared to all fourth quarters: Down 35.9% from the highest 4Q fare, $600 in 2000.
Compared to all quarters: Down 37.8% from the highest fare for any quarter, $619 in 1Q 1999.
Start of BTS records in 1Q 1995: Down 36.3% ($604).
Recent high: Down 1.1% from 2Q 2019 ($428)
Recent low: Up 33.0% from 3Q 2020 ($289).
All-time low: Up 33.0% from the previous low 3Q 2020 ($289).
All-time fourth-quarter low: Up 25.1% from the previous low 4Q 2020 ($307).

Unadjusted Average Air Fares
Fourth Quarter 2023 fare: $385
Trend: Up 4.6% from 3Q 2023 ($368)
Compared to all fourth quarters: Down 2.7% from the highest 4Q fare, $395 in 2014
Compared to all quarters: Down 4.3% from the highest fare for any quarter, $402 in 2Q 2014
Start of BTS records in 1Q 1995: Up 29.6% ($297) (compared to 100.0% consumer price index increase)
Recent low: Up 57.2% from 3Q 2020 ($245)
Recent high: Down 3.1% from 2Q 2022 ($397)
All-time low: Up 57.2% from 3Q 2020 ($245)
All-time fourth-quarter low: Up 47.6% from 4Q 2020 ($261).

Fares by Airport Group

Highest: 11 airports with 2.0+ million originating passengers ($392).
Lowest: 4 airports with 1.5-1.99 million originating passengers ($369).

Additional data: see Top 100 Airports or All Airports. First Quarter 2024 average fare data will be released July 16.

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