U.S. airfares were the cheapest they’ve been since 2010 in the first quarter of 2016, the federal government said Tuesday.
The average price of a domestic ticket dropped to $361 in the first quarter, down 7.8 percent from the same period in 2015, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics.
The fare data are adjusted for inflation and don’t include fees for optional services, such as baggage fees.
Both United Continental Holdings and Delta Air Lines recently said they would slow plans to increase capacity, or the number of available seats on flights, to keep available spots in line with demand from passengers and boost passenger revenue.
Last week, United said passenger unit revenue was down 6.6 percent in the second quarter of 2016 compared with the same period in 2015, which the airline blamed in part on industrywide capacity outstripping demand, which can push fares down.