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The collapse of Monarch airlines and Ryanair cancellations have caused flight costs to increase by around a quarter on the monthly average.
Data from Skyscanner has revealed that the average cost of a flight in October has increased by 23%, as passengers look to make alternative arrangements to continue their travel plans in the next few weeks.
Travellers faced uncertainty following the collapse of Monarch – who entered into administration on 2 October – which left more than 100,000 stranded overseas.
Administrator KPMG put Monarch’s collapse down to a drop in prices within the short-haul travel market, as well as an increase in fuel costs.
Ryanair has also cancelled a number of flights, leaving it up to competitors to carry the rest of demand, which has subsequently resulted in an increase in prices.
Flights to Barcelona, Alicante, Malaga, Milan and Dublin have all seen a dramatic spike in price during October, however most routes look set to return to normal at the start of 2018.
Data shows that the cost of flights to Dublin have increased the most in October, with prices increasing to £106.39 from £74.46.
Flights to Malaga have also seen prices increase by almost a third, with travellers now having to pay £109.77 to get to the Spanish city.
The Civil Aviation Authority (CAA) believes it will cost about £60 million to ensure all of the stranded overseas passengers are given safe travel to the UK.
Over the course of the next two weeks, 34 chartered plans, from 16 different airlines, including Qatar Airways and EasyJet, will return passengers to the UK.
If you’re considering travelling overseas in the coming months, ensure you have adequate travel insurance for your trip to cover any eventuality.
Date Created: 06/10/2017