'Stronger than ever': Asheville Regional Airport on track for a record-breaking year
Traffic through Asheville Regional Airport has seen a resurgence this year, on pace to break record-year figures despite increased airfare and travel costs.
The airport served 452,998 passengers in the first four months of 2022, according to Tina Kinsey, spokesperson for Asheville Airport. That’s over 33,000 more passengers than the first four months of 2019, a year in which a record 1.6 million people flew through AVL.
These flight numbers came during a period where the cost of jet fuel increased by 91%, from $2.16 per gallon on Jan. 1 to $4.14 at the beginning of June, according to data from the U.S. Energy Information Administration. Allegiant airlines, which has the most flights in and out of Asheville, estimated its average fuel cost per gallon was $4.15 in April, according to preliminary passenger traffic results.
“Significantly higher jet fuel price is one of the biggest factors impacting airfare in the current environment,” Hopper, an airfare-tracking app, stated in its most recent Consumer Airfare Index Report. “Historically jet fuel prices have accounted for 30% of an airlines’ operating expenses, usually the second biggest cost aside from labor. This means back-of-the-envelope that if the full additional cost is passed on to the consumer, a 10% increase in jet fuel prices would (after some lag) result in a 3% increase in airfare.”
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Looking forward, fares for the rest of the summer are expected to be 94% higher nationwide than 2021 levels and 66% higher than 2019 levels, according to Hopper data. But Asheville Regional Airport has yet to see fare prices deter travelers.
“So far, air travel to and from AVL has been stronger than ever – we have not yet seen a softening,” said Kinsey. “Passenger numbers are exceeding our peak year in 2019. There is a huge demand for air travel at this time.”
According to AAA data, 61% of North Carolinians and 65% of South Carolinians will take at least one trip in 2022, with over half of Carolinians planning to travel this summer. Robust traffic through the airport is not the only indicator of mounting summer travel. Tiffany Wright, spokesperson for AAA Carolinas, says AAA expects road trips to be the number one form of travel this summer.
“Despite record higher gas prices, 89% of North Carolina summer travelers and 85% of South Carolina summer travelers still plan to take a road trip of 50 miles or more this summer,” according to AAA. “However, 72% of North Carolinians and 65% of South Carolinians say they will adjust their travel habits to offset the higher price at the pump.”
Travelers are adjusting to higher prices by taking shorter or fewer trips, traveling closer to home, staying at less expensive hotels and budgeting more for gasoline and less on other aspects of their trips. For those planning to skip the roads and buy a flight, industry professionals have advice for saving money: book early.
“The cost of jet fuel is affected by the price of crude oil,” Wright said. “However, if you booked early, you locked in your price. We recommend booking your airfare as soon as possible to lock in the best rate, as prices are increasing daily depending on the destination.”
This article originally appeared on Asheville Citizen Times: Asheville Regional Airport on track for record year despite inflation
