"Fares have increased by over 40%... and will certainly be a big blow to demand in the coming festive and leisure travel season," said Sharat Dhall, president, Yatra.com said.
Rajji Rai, advisor to the Travel Agents’ Association of India, said more significant increase in fares is expected in the next couple of weeks. "With Durga Puja and Dussehra next month a further increase is one the cards," Rai said.
Yatra.com said tickets booked seven days in advance were up 23% while 21-day advance fares had risen by 19% and 30-day advance were up 24%.
"There are multiple factors at play in this increase in airfares," Dhall said. "The rupee, the hike in ATF price, the fact that all carriers had cut prices in the off-season, have all contributed."