Fares have declined 10 of last 11 quarters
COVINGTON, Ky. (Feb. 9, 2016) — Cost of air fares at the Cincinnati/Northern Kentucky International Airport (CVG) declined 20 percent year-over-year in the third quarter of 2015, Department of Transportation (DOT) report released today. Fares decreased 17 percent in the second quarter.
For the second quarter in a row, CVG has seen a significant drop in its ranking among the nation’s top 100 airports dropping from No. 1 to No. 19 in the most recent report. Fares at CVG have now declined in 10 of the last 11 quarters dating back to the first quarter of 2013.
“We’re proud of the significant improvement we’ve made in our national air fare ranking among the top 100 airports,” said Candace McGraw, chief executive officer. “During the third quarter of 2015, local passenger volume grew 23 percent year-over-year and low-cost carriers represented approximately 19 percent of CVG capacity. The response from the Tri-State community has been tremendous. Together, Allegiant and Frontier served over 300,000 CVG customers during that time period.”
CVG now has low-cost carrier service to 23 of its 53 nonstop destinations. This spring, Allegiant will add two more nonstop destinations with service to Destin, Fla. and Baltimore-Washington International Airport. Frontier will also expand its service to include nonstop service to Los Angeles, San Francisco, Houston and Philadelphia.
“The third quarter air fare report clearly indicates that we’re making significant progress in our goal to make air travel affordable for the Tri-State region,” said J. Michael Schlotman, Kenton County Airport Board chairman. “We’re proud to be the hometown airport for the region and proud to be experiencing our best performance in passenger traffic since 2005.”