Americans may enjoy complaining about their flying experiences but they cannot moan about shrinking airfares. Since 1995, the average US domestic airfare has fallen from nearly $600 to under $400, adjusted for inflation. United Airlines thinks that era may now be coming to an end.
On this week’s earnings call, United chief executive Scott Kirby opined that pandemic-era supply shortages would persist. Ultra-lean discount carriers would struggle to compete.
His message will exasperate his customers but please his shareholders. United hit its nine per cent operating margin target ahead of schedule. Even better, Kirby said the airline’s earnings could soon reach a permanent cruising level above 2019 levels.
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