Airline Ticket Prices Keep Plunging as Competition Stays Hot

Airline Ticket Prices Keep Plunging as Competition Stays Hot

Travelers have many reasons to complain about airlines, as reliability and service standards in the industry remain so-so, at best. However, high fares are increasingly a problem of the past.

In the last 10-15 years, fast-growing budget carriers like Spirit Airlines (NASDAQ: SAVE) and JetBlue Airways (NASDAQ: JBLU) have made air travel more affordable for many people. Meanwhile, the intense competition they have provided has forced high-cost carriers like United Continental (NYSE: UAL) to reduce their own fares and become more efficient.

Spirit Airlines' growth has helped keep U.S. airfares down. Image source: Spirit Airlines.

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Source: Fool.com