Airfares in Thailand witnessed a substantial increase in the third quarter of this year, despite it traditionally being a low season for travel.
This surge was driven by a robust travel demand. Thai AirAsia, for instance, observed a 22% year-on-year rise in its airfares during this period, while Bangkok Airways’ rates saw a 15% hike.
The average fare price for Thai AirAsia during the quarter soared to 1,720 baht, a significant increase from 1,404 baht during the same period in the previous year. This fare also surpassed the 2019 level, which stood at 1,457 baht. According to Santisuk Klongchaiya, the Chief Executive of Thai AirAsia, the airline had to raise its airfares by 15 to 20% for the current quarter to cope with the bustling tourism high season, all in the pursuit of returning to profitability.
In the third quarter, Thai AirAsia catered to…
