Typical airfares between Sydney and London now cost about four days’ salary for the average Aussie worker, showing prices are stabilising post-COVID.
According to Flight Centre Travel Group’s latest Turner Index, named after its founder, Graham ‘Skroo’ Turner, long-haul fares haven’t quite hit 2019 levels but are heading in the right direction.
The new report draws on government wage data, compared against average Sydney to London fares over the year, to determine relative affordability.
In the report, Turner said prior to the pandemic, airfares were generally one of the few products capable of defying inflation.
“Prices of the headline airfare to London tended to drop or remain fairly stable over the years, while average wages tended to increase,” Turner said.
“That trend is now starting to re-emerge post-COVID, which is great news for travellers who are planning and saving to take off to London,” he added.
At its most affordable, Turner said, airfares to London equated to around three days’ wages.
Two decades ago, it would have taken 1.5 weeks to save for the $1,299 average fare; up to seven weeks 50 years ago for what was an $800-$1000 ticket, and 1.5 years of work or 7,700% of the average wage when Qantas’ first flight to the UK took off in 1947.
Turner added there is still room for fares to come down further, but only if competition and capacity increases.
