New DOT report: Average airfare continues to fall at MEM
Tuesday, February 9, 2016
MEMPHIS, Tenn. (February 9, 2016) – Third quarter 2015 statistics released today by the Department of Transportation reveal a continued drop in the average airfare at Memphis International Airport (MEM).
The average airfare cost at MEM in the third quarter was $396.17, which marks a 5.4 percent decrease from the previous quarter ($418.70) and a 13.2 percent drop from the same period a year before ($456.46 inflation-adjusted).
The average airfare at MEM has now dropped by more than $100 since 2012, when it peaked at almost $540 ($539.36 inflation-adjusted). MEM’s average airfare now ranks no. 37 among the nation’s 100 largest airports, down seven spots from the previous quarter.
“This is good news for Memphis flyers and good news for the continued resurgence of our airport,” said Pace Cooper, Chairman of the Memphis-Shelby County Airport Authority Board of Commissioners. “Lower fares have been a stated goal of our efforts to improve air service; this new ranking reaffirms our continued progress at becoming a more affordable, and thus, more competitive destination market.”
“I am confident this positions us for further gains in the near future,” he added.
The report includes passenger and fare data from the third quarter of 2015.
Additional information is available at the DOT website:
Average Fares by Airport
Release – 3rd Quarter Data