This could be the summer to land a good deal on international airfare.
In April, average prices for U.S. airfare, including flights at Minneapolis-St. Paul International Airport, were lower than in the same month in any of the past five years, reflecting wavering consumer sentiment about the state of the economy at the start of peak summer travel, the most recent data shows.
Travel experts are paying close attention to the prices for overseas trips, which could be seen as unnecessarily lavish by travelers paying their own way with dwindling savings or adding to mounting credit card debt.
“For the first time, and probably since really coming out of the pandemic, we’re seeing softness in fares that we just haven’t seen for years,” said Clint Henderson, managing editor at flight deals website the Points Guy.
That is “great for consumers,” Henderson added, but also “hints at a possible economic slowdown. That’s usually how these things rise and fall.”
Mainline carriers like Delta Air Lines, American Airlines and United Airlines all have deals running late into the booking season. Henderson said he usually advises people to buy an overseas flight at least four or five months in advance — but that does not seem to matter this year.
“I think this is going to be the summer of savings,” Henderson said. “I really think there’s going to be a lot of deals out there. I think the airlines are not selling as many seats, the hotels are not selling as many rooms as maybe they have in summers past. So, look for those deals.”
Airline fares declined overall in the first months of the year, according to the latest Consumer Price Index, released in mid-May. Fares in April decreased 7.9% compared year-over-year, the data show.