The Era Of Cheap Airfare

Mar 5 2013 @ 10:51am

Flight Cost Per Mile

Derek Thompson notes that the cost of flying has plummeted:

Why don’t we appreciate this heyday in bargain flying? The first, and obvious, answer is that flying through the air in a big machine powered by a scarce resource will always cost a big number, and your average family expends very little energy adjusting big numbers for inflation. If you buy a round-trip ticket from New York to Columbus for $280 every year between 1986 and 2010, would you suddenly realize, after 24 years, that the real price of your ticket had dropped by exactly 50 percent? Probably not. You’d probably think, correctly, “I guess flying to Ohio costs $280.”

(Chart from Mark Perry)