Airfare, vacation prices climb higher despite low oil prices

The average price of airfare rose by 5.4 percent last year despite a sharp drop in the price of oil, according to Statistics Netherlands (CBS) figures provided to NOS. The price of holiday packages also went up by 1.5 percent. “When oil prices were high after the crisis this was passed on to the customers,” CBS economist Peter Hein van Mulligen told the broadcaster. The price drop, on the other hand, has not made its way to ticket costs. “For many years it did not go so well in aviation,” Corendon CEO Steven van der Heijden told NOS. “There is now more demand for air travel, and the consumer is thus willing to pay more.” But travel provider TUI plans to slash prices. “At the moment we are busy buying the fuel we need for the upcoming summer,” said Petra Kok, Communications Manager at TUI. “Customers will certainly soon find a noticeable price cut.”