Holiday Airfares Hit 10-Year High as Jet Fuel Costs Stay Elevated
Thanksgiving round-trip fares average $402, up 31% from last year, Hopper says, and award tickets booked with miles cost about 32% more.
Americans flying home for the holidays this year face the highest fares in a decade, and paying with frequent flyer miles offers little relief. Hopper, the travel-booking company, says the average domestic round-trip fare for Thanksgiving is about $402, up 31%, or $95, from last year. CNBC reported Sunday that award tickets between major U.S. airports over the Thanksgiving period cost about 32% more than last year.
What happened
Hopper’s 2026 Holiday Travel Index was published in late September. It found Christmas fares running even higher than Thanksgiving fares in dollar terms, with domestic round trips averaging $452, up 23%, or $85, from a year earlier. Fox News Digital reported that the company based its figures on a week of flight searches in September, focused on lower-priced tickets, and adjusted for the shift in Thanksgiving’s date when comparing with 2025. The numbers reflect search prices at that time, not final fares paid.
International holiday trips are also more expensive. According to Fox News, Hopper found Christmas fares to Mexico and Central America up 23% and fares to Europe up 15%. Hopper said fares for both holidays had reached 10-year highs, and the company concluded that this holiday season is on track to be the most expensive for air travel in a decade.
Why fares are climbing
The main driver is fuel. Jet fuel prices have stayed high since the United States and Israel attacked Iran on Feb. 28, CNBC reported, cutting into airline profits as carriers try to pass the cost on to passengers. Hopper tied the holiday fare spike directly to “months of elevated jet fuel costs due to the conflict in Iran,” according to Fox News.
Supply is tight too. A CNN Newsource report carried by KCTV5, a Kansas City television station, pointed to fewer low-cost options after Spirit Airlines, the ultra-low-cost carrier, left the industry in May. CNBC also cited limited capacity alongside strong demand. Airline executives said last month that customers were still booking despite the higher prices.
Miles are no shortcut
Travelers hoping to dodge cash prices with loyalty points are running into the same problem. Using data from Seats.aero, a site that searches award availability for miles and points, CNBC found that average one-way award prices on flights between large U.S. airports over Thanksgiving were about 32% higher as of early November than a year earlier.
Many of the most expensive award routes are long-haul flights, including several from Hawaii, though a nonstop between New York and Houston also made the list, CNBC reported. Even the cheapest routes, such as the short hop from Tulsa, Oklahoma, to Dallas Fort Worth International Airport, cost more than last year. Most U.S. airlines have dropped fixed award charts in favor of dynamic pricing, so the number of miles needed rises and falls with demand, which makes redemptions harder to plan.
What comes next
With Thanksgiving less than three weeks away, the remaining seats on popular dates are likely to be among the priciest. Hopper had urged travelers to book before Halloween and noted that flexible travel dates can lower costs, KCTV5 reported. Experts quoted by Fox News also suggested buying early and continuing to track prices after booking.
Gary Leff, a Texas-based aviation expert who founded the travel blog View from the Wing, told Fox News that higher fares hit families especially hard. “It’s a much bigger deal when you’re multiplying increases by, you know, four or more passengers,” he said. Leff noted that most tickets other than basic economy no longer carry change fees, so travelers who book and then see the price drop can often rebook and get a credit for the difference. He also cautioned that flying from a farther airport can mean extra costs for driving, parking or rideshares, and that connecting flights leave more room for disruptions.
For airlines, the holiday season will test how far they can keep raising prices to offset fuel costs before demand weakens. For now, carriers are betting that travelers will pay to be home for the holidays.
