Best CVG Ranking in History of Airfare Report
April 26, 2016 — Average airfares from CVG declined 20 percent year-over-year based on the 4th quarter 2015 Department of Transportation airfare report. CVG’s ranking among the top 100 airports in the U.S. dropped to #22 and is the lowest ranking achieved by CVG since the report started being published in 1995. Average fares at CVG have declined year-over-year for the last nine consecutive quarters and 11 of the last 12 quarters dating back to the 1st quarter of 2013.
CVG’s competitive position compared to other Tri-State airports continues to improve. For the second consecutive quarter, CVG’s average airfare was lower than both Dayton and Louisville airports. While CVG was ranked #22 among the top 100 airports, Dayton was ranked #18 and Louisville was ranked #19.
“The significant improvement in CVG’s average airfare position compared to other U.S. airports is a big win for both the airport and the community,” said Candace McGraw, chief executive officer, Cincinnati/Northern Kentucky International Airport. “Lower fares are stimulating strong traffic growth at CVG. Our 4th quarter local traffic grew year-over-year by 16 percent and that growth has continued into the first half of 2016.”
The trend of improved airfares is expected to continue. Allegiant Air is adding new service to Baltimore/Washington, D.C. this week and new service to Destin, FL next month. Frontier Airlines just added four new markets this month including two to the West Coast, San Francisco and Los Angeles. American Airlines started new service from CVG to New York LaGuardia on January 5th with three daily flights.
“Travelers across the Tri-State have taken notice and are taking advantage of these low fares,” said McGraw. “More than 19 percent of CVG passengers are now using low-cost carriers and we expect that percentage to continue to grow as additional routes are added. Low-cost carriers provide service to 23 of our 53 nonstop destinations with more than 100 weekly low-cost carrier flights.”