You might want to finalise your Christmas holiday arrangements as soon as possible because airfares are soaring and showing no signs of going down anytime soon.

Flights to some of our favourite vacation spots along the busiest routes have more than quadrupled in price since the COVID-19 pandemic.

Suppose you’re the type who puts off travel arrangements until the last minute. You may have missed the boat in such circumstances or be compelled to travel with considerable inconveniences.

Expect lengthy layovers (up to 12 hours in certain situations) and a forced overnight stay en route.

During the peak school holiday season (approximately from December 16 to January 16), the average economy airfare from Sydney to London, with a total trip time of 27 hours, starts at over $4650 per person. While an average economy class ticket to Los Angeles costs $4214, assuming you are lucky enough to find a seat.

Many flights to Asia, Europe, and the United States are already nearly sold out.

There are no longer any inexpensive international flights on sale; airlines don’t need to incentivise people to book since demand is so high and supply is so limited; consequently, if you are unwilling to pay a premium, there is no other alternative.

Airlines do not need to offer special airfares in the market since flights are fully booked. They (the airlines) are now profitable and have minimal operating expenses, which is the ideal combination for profit maximisation.

The only significant expense that airlines are now facing is the high fuel cost, which is insufficient to justify the massive increase in airfares.

The desire to travel has increased after three years of people being unable to travel abroad owing to the pandemic. Airlines have battled to keep up to the point where they have learnt a good lesson that triggers the potential to profit.

Many airlines are not running on the same schedules as before the pandemic. Others, such as Chinese carriers, have yet to resume flights into Australia.

Whereas certain airlines may have historically operated three flights per day into and out of any of the major cities in Australia, they may currently only operate one flight per day.

Domestic flights and airfares have also been impacted by these issues, with ACCC chair Gina Cass-Gottlieb stating in early September, “After about 18 months of historically low airfares, the cost of domestic flying has risen sharply in response to strong demand, temporary capacity reductions, and very high jet fuel prices.”

Finally, if you haven’t previously planned and booked your flights for the Christmas holiday, you may have already missed out. Suppose you’re hoping for cheaper ticket rates. In that case, you may have to wait a bit longer because current booking patterns and demand indicate that it’s unlikely to happen anytime soon.