Average airfares on many domestic routes have dropped 20-25% compared to the period last year, according to an analysis.
An analysis by travel portal ixigo showed that the increased capacity and the recent fall in oil prices are key factors contributing to the decline in air ticket prices.
The prices refer to one-way average fares based on a 30-day APD (advanced purchase date).
For 2023, the time period considered is from November 10 to 16, while for this year, it is from October 28 to November 3, coinciding with the period around Diwali.
The analysis indicated that the maximum decline in average airfare was 38% for a Bengaluru-Kolkata flight, dropping to Rs 6,319 this year from Rs 10,195 last year.
The ticket price on the Chennai-Kolkata route has fallen by 36% to Rs 5,604 from Rs 8,725, while the average airfare for a Mumbai-Delhi flight has dropped by 34% to Rs 5,762 from Rs 8,788.
There is a 34% decrease in ticket prices on the Delhi-Udaipur route to Rs 7,469 from Rs 11,296, and 32% on the Delhi-Kolkata, Hyderabad-Delhi, and Delhi-Srinagar routes.
However, the ticket price has jumped 34% on the Ahmedabad-Delhi route to Rs 8,758 from Rs 6,533, while on the Mumbai-Dehradun route, it has risen by 33% to Rs 15,527 from Rs 11,710.
The decline in oil prices, down 15% this year, may have also contributed to this downward trend, offering travellers more affordable options during the festive season.
Currently, oil prices are slightly on the upward trajectory amid rising geopolitical tensions.
Meanwhile, there has been an increase in airfares of up to 34% on certain routes.