- Report shows discount fares going down
- Business and economy increasing
- Airlines facing wage and fuel hikes
PACK your bags - discount air fares are at record lows.Bucking the trend towards higher prices in all other categories of domestic air travel, discount fares are at their cheapest since official records began 18 years ago, according to monthly data from the federal Bureau of Infrastructure, Transport and Regional Economics, reported the Herald Sun.
Although the cost of business and full economy travel is increasing, discount fares have fallen consistently for the past three years, data cited in a report by investment bank CommSec revealed.
CommSec chief economist Craig James advised consumers and businesses to shop around for the best deal to make the most of the bargains.
"No doubt the airlines are testing the waters, lifting some air fares and seeing what the response is," he said.
"With the cost of jet fuel on the rise and upward pressure on wage costs, the airlines will continue to attempt to lift fares to cover costs."