Average airfare continues to drop at MEM
Wednesday, April 27, 2016
MEMPHIS, TN (April 27, 2016) – The latest quarterly average airfare report from the Department of Transportation reflects a continued downward trend for fares at Memphis International Airport. The DOT’s fourth quarter 2015 statistics, released today, show that the average airfare at MEM to be $386.85, a drop of $9.32 from the 3rd quarter 2015 and $50.54 from 4th quarter 2014.
The average airfare at MEM has now dropped by more than $150 since 2012, when it peaked at almost $540 ($539.36 inflation-adjusted). The decreasing airfare comes at a time when MEM is experiencing strong passenger growth, with a nine percent increase in passengers compared to last year at this time.
“Affordability and accessibility are helping to drive more passenger traffic at MEM,” said Scott Brockman, President and CEO of the Memphis-Shelby County Airport Authority. “Adding new low cost carriers and competition for key destinations has helped to bring down the average cost of flying at MEM. As a result, we’re seeing strong growth in our passenger base.”
Additional information is available at http://www.transtats.bts.gov/AverageFare/