Why European Flight Costs Are Expected to Soar in 2022
It has recently been announced that European flight costs are expected to soar in 2022. This is due to a number of factors, including the increasing price of oil and the introduction of a new emissions tax. The tax will be applied per passenger and is expected to add an extra €8 to the cost of each ticket.
This news comes as a blow to travelers, who are already struggling with the high cost of air travel. Are you shocked by this development? Let us help you get grounded with the explanations below. Here are a few reasons why ticket fares will rise in the EU.
Increase in Fossil Fuels
As you may know, our current reliance on fossil fuels is not sustainable. In fact, it’s one of the leading causes of climate change. The production and consumption of oil, gas, and coal are responsible for about 60% of global greenhouse gas emissions.
The problem is that these energy sources are finite— meaning they will eventually run out. And as demand for them increases (see how many flights from Athens to Santorini in a week) while supply decreases, their price will continue to rise.
What does this have to do with flying? Well, the cost of aviation fuel has already increased by 30% since 2016, and it’s expected to keep going up. This is one of the main reasons why flight prices are increasing, and it’s only going to get worse in the coming years.
Emissions Tax
Another factor that’s driving up the cost of flying is the new emissions tax. The European Union has plans to introduce a carbon tax on all flights departing from EU airports in 2022. The tax will be applied per passenger and is expected to add an extra € to the cost of each ticket. The emissions tax is intended to encourage airlines to invest in cleaner technologies and offset their carbon emissions. However, many believe that the tax will ultimately be passed on to passengers in the form of higher ticket prices. And with the price of oil expected to continue rising, it’s likely that we’ll see a significant increase.
The Takeaway
We hope this article has helped to explain why flight prices are expected to increase in the coming years. As always, we recommend that you compare different airlines and book your tickets as far in advance as possible to get the best deals. Thank you for reading. Do you have any tips for saving money on air travel? Please share them in the comments below.
