Domestic discount airfare prices fall
Business and restricted economy fare costs rise modestly.
Over the last month the price of discount airfares across Australia decreased slightly, while the cost of restricted economy and business class fares ticked up.
The latest aviation report on domestic airfare indexes from the Bureau of Infrastructure, Transport and Regional Economics (BITRE) reveals the lowest available best discount fare fell 0.3 points month-on-month, from 62.1 in October 2016 to 61.8 in November 2016.
Best discount fares are the cheapest fares excluding baggage surcharges and are sourced from Qantas (Red e-Deal or Super Saver), Virgin Australia (Saver), Jetstar (Starter), and REX (Rex Saver or Rex Net).
Business fares jumped 0.3 points month-on-month, from 94.6 in October to 94.9 in November.
Restricted economy airfares - Qantas (Flex), Virgin Australia (Flexi), Jetstar (Starter with Max) and REX (Rex Biz) - rose from 79.9 in October to 80.1 in November.
Over the last 12 months best discount fares peaked at a whopping 73.7 points in September 2016, business fares were highest in June 2016 and restricted economy were most costly in January 2016.
From the middle of February 2015, Qantas Airways ceased offering full economy fares for domestic travel. Therefore, it was no longer possible to generate an index for this fare category.
BITRE's indexes are constructed from monthly surveys of airline internet booking sites. The series is a price index of the lowest available fare in each class, weighted over selected routes.
Below is the domestic fares price index for the last 12 months.
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