October airfares haven’t been this cheap in 6 years, making the slump between summer and winter holidays suddenly more exciting for people looking to get away.
, an online travel booking platform. That’s a 3.1 percent decrease from this time last year, according to Hayley Berg, Hopper’s chief economist.
“This year, these low prices are compounded by the same factors we've seen pushing down prices all year,” Berg told NBC News. “Increased competition in the airline industry has driven airlines to expand their fleets and drop prices in an effort to capture a larger piece of the growing demand for travel. In addition to this, we've witnessed the continued entry and expansion of low-cost carriers into the U.S. market.
Fares are forecast to be around 30 to 40 percent lower than usual for U.S. travelers to locations such as Iceland, Thailand, and South Korea. Scott Keyes, founder of Scott's Cheap Flights, a newsletter that lets people follow airports and receive alerts when bargain airfares are found, said this is “the golden age of cheap flights.”
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