Air fares may go down next year, says International Air Transport Association

Air fares may go down over the next year, if an International Air Transport Association (IATA) survey is any indication.

The IATA says input costs of airlines may go down over the next year, indicating a possible correction in fares.

Air fares, at present, are hitting through the roof.

In fact, the survey, which included comments from top airline officials, claim input costs have already declined recently, despite the increase in jet fuel prices.

Jet fuel accounts for over 40% of airline costs in India.

The Centre for Asia Pacific Aviation (CAPA) has recently predicted a growth in domestic and international passengers, on the back of massive discounts offered by airlines.

The study claimed there was a 135% increase in domestic passengers as compared to last year.

International traffic saw a growth of around 12-14% in most of the international airports in the country.