DALLAS — If you plan to fly this spring or summer, you may want to look ahead and book as soon as possible.
According to Henry Harteveldt, a travel industry analyst with Atmosphere Research Group, airlines are making up for past years' losses, as well as current inflation. In turn, both pricing and number of flights are impacted.
"It is unlikely airfares are going to go down," he said.
A Southwest Airlines spokesperson told WFAA that the company cut around 325 flights per day from April 3 to June 4. This is out of the 2,700 to 3,600 daily flights. Customers have been rebooked. Southwest also confirms flights will be added when there is demand.
American Airlines also reduced its flight schedule.
Harteveldt said, "American may be feeling the effect of the fuel price changes more than Southwest."
American Airlines doesn't hedge fuel, like Southwest. Hedging is essentially pre-paying for a certain amount of fuel at a set cost ahead of time. It can be risky, but with the cost of fuel currently, it can be beneficial.
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Harteveldt said, "There's a bit of a gamble in there for Southwest. This time, it looks like they are winning."
Each airline may cite a different reason for cutting flights, but higher costs, competitive staffing and the pandemic have been nonstop factors impacting the industry as a whole.
"All airlines are being affected by a common set of challenges," said Harteveldt.
Each obstacle is preparing airlines for the next, and Harteveldt believes with every crisis, the industry becomes more resilient.
For those planning air travel this year, he suggests booking it now. He also said to double check the terms of the fare. Most airlines will allow a refund or travel credit if the prices go down, which will protect the customer.