Summer Europe travel costs soar by 50%.

Expect airfares to and across Europe to increase by anywhere from 15% to 50% this summer due to high demand and a low supply of airline seats. As one example, Ryanair’s Chief Executive, Michael O’Leary, predicts that fares will jump by nearly 15%, citing that average fares across Europe rose by 20% in 2023. The travel booking website Kayak also reports that flights between European and Australian destinations have risen by as much as 50% for summer vacays.

The pandemic has caused a decrease in available airline seats with so-called revenge travel contributing to the heightened demand. Additionally, some airlines have gone out of business, while others are not back to operating at full capacity.

Australians looking to travel to Europe will be hit hard with a return flight now costing $2,571 between June and the end of September. This cost represents a 46% increase compared to last year and a staggering 63% above comparable pre-pandemic trips, according to The Guardian.

The cost of living crisis and inflation in destination countries could add to the pressure of finding affordable summer vacation options. The increase in travel fares could force some people to rethink their travel plans entirely.

Why Are Prices Increasing?

The pandemic has contributed to a lack of airline seats as airlines burned through their cash reserves during flight cancellations and government-mandated groundings. Additionally, airlines have relied on business class travelers in the past to pay for cheaper economy seats. As business-class travel has yet to rebound since the pandemic, airlines have to raise their prices for normal holidaymakers.

As a result, middle-class families who could afford travel in the past may no longer be able to. With some airlines retracting growth plans or operating at reduced capacity, average families could face up to a $125 increase in airfare for a family of four.

If you’re impacted by the airfare hikes this summer season, you may need to consider alternative vacation plans.