Been on a plane lately?
Last month, Mintel Academic released it's 2018 - Airlines in the US Report.
According to Mintel, "The surging price of [airline] fuel is impacting profit margins and encouraging airlines to raise fares."
Although there are currently over 5000 airlines with ICAO codes, there are just four domestic airlines which control roughly 72% of the U.S. market for air travel. American Airlines, now the world's largest airline, says that its fuel is "about 25% more expensive compared with the prior year, an increase that has added $412 million to its costs." Competitors Delta Airlines and United Airlines have also said that they are "paying significantly more for fuel in 2018 than in 2017."
So book tickets now! But expect airline fares for the big four (American; Delta; Continental; Southwest) to rise throughout 2018.
Looking for more up-to-date market analysis and analyst insight on trends? Check out the MSU Libraries subscription to Mintel Academic Reports.