Home Business NewsBusinessAviation News Experts warn that the prolonged war in Ukraine along with the rise in oil is seeing holiday ‘prices to certain destinations rising’

Experts warn that the prolonged war in Ukraine along with the rise in oil is seeing holiday ‘prices to certain destinations rising’

by LLB staff reporter
5th Jun 22 2:36 pm

Travel experts have warned that cheap holidays abroad could soon becoming a thing of the past as the ongoing chaos at UK airports, the rising cost in oil and the ongoing war in Ukraine are all pushing up the price of flights.

Amid the Covid pandemic and the constant lockdowns forced airlines to make tens of thousands of staff redundant across the travel industry.

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Airlines have been unable to re-hire former staff or even hire workers quickly enough and holidaymakers and travellers are already being hit with the rising costs.

There have been reports that some airlines will no longer offer any last minute holiday bargains and so far there has been many hundreds of last minute cancellations affecting thousands of people wanting a summer break.

John McEwan, former Thomas Cook managing director and ex-chairman of the travel association ABTA, said the problem is most likely to contimue to drag on throughout the summer months if recruitment issues are not solved quickly. ‘

McEwan said, “Prices will ultimately have to go up because the cost of doing business will go up.

“It’s already starting to happen – you can see the prices to certain destinations rising.”

Friedrich Joussen, chief executive of travel giant TUI, warned that the prices of holidays are starting to soar as they are facing higher costs.

He added, “There will be practically no last-minute offers at low prices this summer.”

Gordon Smith, The Mail on Sunday’s aviation expert, agreed with Joussen, he said, “The usual run of last-minute discounts is very unlikely to materialise.

“Flight cancellations mean more people on fewer services, so airlines and holiday firms won’t need to slash prices to fill aircraft.”

David Tarsh, managing director of the travel firm Tarsh Consulting, warned that the prolonged conflict in Ukraine could drive the cost of flights even further.

He added, “The oil price component of a flight is about 30%, so if there is a 50% rise in oil prices over an extended period then you are looking at around a 15% increase in the cost. Staffing is probably 50% of your costs.

“In exceptional times, when you’re desperate for staff, your recruitment costs go up.”

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