Personal Finance News Friday 5/3

Phil's Personal Finance Tip of the Day:

The Best Places to Fly This Summer
Airfares to Many U.S. Destinations Have Fallen as More Head Overseas; Deals to Denver

By Scott McCartney | The Wall Street Journal 


If you haven't booked your summer plans yet, brace yourself: There's actually good news this year, for a change. Airfares to many popular U.S. destinations have dropped.

Airline ticket prices for summer travel to Tampa, Fla., New York, Denver and Washington, D.C., have fallen, after steep increases for several consecutive years, according to Orbitz.com. The average ticket already purchased for summertime flights to Chicago is down more than 18% from the same period last year. Tickets bought for Honolulu are 10% cheaper than those bought during the same stretch of 2012. Lots of domestic destinations have seen soft demand and the biggest price drops have been in cities with more discount-carrier service than years before.

[More from WSJ.com: The Derby: It's About Where You Sit]

"A lot of big destinations are seeing double-digit price drops," said Jeanenne Tornatore, a travel analyst at Orbitz, the online ticket seller.

This good news comes as a surprise after several years of dramatic airline price increases, especially for holiday and vacation travel periods. High fuel prices have forced airlines to raise fares and fees, and consolidation and flight-schedule reductions have given them pricing power they didn't have before. In the second quarter last year, the average domestic airfare was up 28% from the April-to-June period in 2009.


To read the entire article from Scott McCartney | The Wall Street Journal :
http://finance.yahoo.com/news/the-best-places-to-fly-this-summer-160019002.html


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Hi my name is Philip J. Miano and I am the founder of PJM Personal Finance and Productivity Coaching specializing in Budgeting, Debt Reduction, Bank Reconciliations, Goal Setting, Time Management, and Organizational skills. Please visit my website: http://pjmcoaching.com.