The “airline recession” is translating to lower airfares for consumers

Airlines are having a turbulent time of it at the minute, with the CEO of Southwest declaring that the industry is in a recession last week and a host of major US carriers deciding to scrap their outlooks for the year ahead.

One beneficiary of the industry’s wider struggles? Cost-conscious globetrotters on the lookout for cheap flights, as fares continue to plummet. In March, airline fares slipped 5.3% year on year, helping to cement it as one of the few categories tracked by the Bureau of Labor Statistics to have actually dropped in price over the last 15 years.

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