Rates have been decreasing since 2013
COVINGTON, Ky. (Jan. 8, 2016) — Air fare from Cincinnati/Northern Kentucky International Airport (CVG) dropped 17 percent year-over-year in the second quarter of 2015, according to a Department of Transportation report released today. Average fares at CVG have declined in nine of the last 10 quarters dating back to the first quarter of 2013.
“We are delighted with the improved air fare performance we have seen over the last two years,” said Candace McGraw, chief executive officer, Cincinnati/Northern Kentucky International Airport. “Travelers across the Tri-State region have taken notice. Our local passenger volume increased 16 percent year-over-year during the second quarter.”
The trend of improved air fares is expected to continue into 2016. Allegiant Air opened a new base of operations at CVG on Wednesday which will enable future expansion and additional flight options to both new and existing markets. American Airlines started new service between CVG and New York LaGuardia with three daily flights and Frontier Airlines just announced the addition of four new markets starting in April 2016.
“We know the key formula for lower fares is providing competitive options for travelers,” said McGraw. “Diversifying our carrier base remains our primary strategic objective. Thanks to the support shown by the region for the new carriers and new route options, we are making progress in that effort.”
During the second quarter of 2015, low cost carriers Allegiant and Frontier Airlines represented 17 percent of the airport capacity compared to just 4 percent in the second quarter of 2014. Together, the low cost carriers boarded more than 138,000 passengers during the reporting period.
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