(Cedar Rapids, IA): The Eastern Iowa Airport had the largest decrease in fares for the top 100 airports from fourth quarter 2012 to fourth quarter 2013 according to the United States Department of Transportation. According to the Research and Innovative Technology Administration (RITA), The Eastern Iowa Airport fares dropped by 16.5 percent in the past year from an average fare of $443.25 to $370.29. Further, fares have dropped 35 percent since 2000 from $569.57 putting us in 6th place for the largest decrease in fares since 2000.
The Eastern Iowa Airport is bucking the national trend. Nationally, the average fare for 2013 of $381 was up 0.1 percent, inflation-adjusted, from the 2012 average of $380 but down 17 percent from the inflation-adjusted annual high of $459 in 2000.
This is great news for the Corridor! “When I started in 2010, the most common complaint I heard was that we had high fares,” said Tim Bradshaw, Airport Director. “We have worked closely with our airline partners to try to convince them to make our market competitive and they have listened. There is a delicate balance with the airlines to keep a market both competitive and profitable. We seem to be closer to that balance.”
The public is responding. The airport has seen tremendous growth over the last 2 years. Year over year passenger numbers were up 6.2 percent from 2012 to 2013 and 12.8 percent from 2011 to 2012. December 2013 through March 2014 have all been record breaking months for passenger traffic as well.
###
