International air fares in Germany down 3% in first half 2024

By Isabelle Yr Carlsson

BERLIN (Reuters) - After significant price increases in Germany last year, holidaymakers enjoyed 3.1% lower prices for flights abroad in the first six months 2024 compared to last year's period, the statistics office said on Tuesday.

Economy class tickets in particular were significantly cheaper, with passengers paying 15.8% less for flights to Central America, 12.3% less to Asia and Australia, and 7.4% less to North America, the Federal Statistics Office (Destatis) said.

Tickets to destinations within Europe, on the other hand, were 2.7% more expensive and to destinations in Africa 4.1% costlier. Prices for domestic flights increased 0.2%.

Overall, prices for international flights have remained high since the end of the COVID-related travel restrictions: they were 20.9% higher in the first six months this year than in the same period two years ago, Destatis said.

Airfares around Europe and Asia have started to plateau or fall, signaling that a prolonged post-COVID travel boom is waning and delivering a setback for airlines struggling with higher costs and limited aircraft availability.

Germany's Lufthansa cut its profit target the second time this year in July, struggling with cost challenges after high wage settlements and operational issues including delivery delays from planemakers Airbus and Boeing.

(Reporting by Isabelle Yr Carlsson, editing by Kirsti Knolle)