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Unregulated competition means that fares fall to little more than a driver's expenses.
BUSINESS DAY, PAGE C1 Last-Minute Air Fares Fall The fares for airline tickets bought on short notice have dropped sharply, a savings of particular interest to business travelers.
Edward Welsh, of the Association of Train Operating Companies (Atoc), says the vast majority of travellers have seen fares fall, stay the same or rise below the rate of inflation.
"As we enter the important summer season, forward bookings are in line with last year, and as we predicted, passengers are benefiting as fares fall to reflect a more competitive operating environment and lower fuel costs".
"This year, thanks to the lowest fare rises since privatisation, the vast majority of people have seen fares fall, stay the same or rise below the rate of inflation".
Similar(52)
Air fares fell after sharp rises in December, down 35.8% month on month in January.
Traffic more than doubled between Portland, Ore., and Europe while fares fell 33percenttheTransportation Departmentment says.
As a result, while fares fell, Spirit's total revenue per passenger grew by 12 percent from 2008 to 2012, reaching $126.50.
Air fares fell 14.2% between March and April this year, compared with a 4.5% rise between the same two months last year.
Fares fell when JetBlue began service from Kennedy to Buffalo in February and from Kennedy to to Rochester in August.
Business-class fares fell even further, dropping 16 percent as the bigger carriers scrambled to keep customers from defecting to low-cost rivals and high-speed trains.
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