Festival season gains momentum, leads to surge in airfares, hotel tariffs
Airfares and hotel tariffs are shooting through the roof as the festival season kicks off. During the Diwali week (November 10-16), airfares on major routes across the country have surged by up to 44 per cent from the previous Diwali week. Robust demand and limited capacity, aided by Go First’s insolvency and SpiceJet’s financial stress, seem to be driving the extraordinary rise in fares.
The average one-way airfare for the Mumbai-Delhi route during the Diwali week is Rs 8,788, up 27.8 per cent compared to the Diwali week of the previous year (October 21-27, 2022). These figures are based on data provided by travel website Ixigo and reflect fares for tickets booked 30-35 days before the travel date.
