Half term flights cost over £100 more than week earlier

What a difference a week makes! Half term flights almost 300% more expensive

• New study finds flights as much as 295% more than the previous week
• Analysis of 34 return flights shows ALL flights were more expensive than the week before
• FairFX warns holidaymakers to plan ahead and avoid triple threat of travel restrictions, currency fluctuations and price hikes

New research by currency experts, FairFX, into the cost of flights for October half-term, has revealed that prices rocket by an average of £102 compared to just one week earlier.

The research comes as FairFX is warning of the triple threat currently facing holidaymakers with travel restrictions, price hikes and currency fluctuations all having the potential to leave them out of pocket. The currency experts are urging people to do their research and plan ahead where possible.

Flight hikes

Comparing 34 return flights from five airports across the UK, FairFX found that flights during half term cost an average of 81% more than the same flight just one week earlier.  

Analysing return flights from Manchester, Birmingham, London Heathrow, Newcastle and Bristol airport, FairFX researched flights  to some of the destinations that are still currently part of the UK’s travel corridor, including; Larnaca in Cyprus, Rome in Italy, Berlin in Germany, and Rhodes in Greece.

From the research, the currency experts found return flights from Manchester to Berlin shot up by 295% (equivalent to £130 per person) when flying out the weekend  half-term begins compared to the weekend before. Meanwhile, return flights between Bristol and Rhodes rose by £331 per person for the same comparison¹.

Currency fluctuations

FairFX has warned it’s not just flight hikes that could leave holidaymakers out of pocket, but exchange rates working against them too.

For example, the pound is currently down 7% against the euro since the start of the year which means holidaymakers heading to destinations such as Cyprus, Greece, Germany or Italy would get £76 worth of euros less than they would have earlier in the year.

By comparison, in Turkey – which was recently taken off the list of quarantine-exempt countries – the pound is currently up 28% against the Turkish lira compared to the start of the year, meaning holidaymakers would get an extra £218 worth of local currency for every £1,000 exchanged.

Ian Strafford-Taylor, CEO of FairFX, said: “It’s no secret that trips abroad tend to cost more during school holidays because of the supply and demand mechanic behind pricing strategies, but some of the price hikes facing families this year are downright scandalous.

“Many families will be wanting to keep children in school after so much classroom time was missed at the start of the year, but in doing so, are facing hundreds of pounds being added to the cost of their holidays.”

“Holidaymakers are having to contend with a triple-threat at the moment thanks to the changing list of countries exempt from quarantine rules, and the impact Covid-19 and Brexit negotiations are having on the strength of the pound. To add unfair flight hikes to the list means people are being hit hard from all directions.”

“As we’ve seen over recent months, things can and are changing quickly. If you are thinking of travelling abroad, it’s worth not only keeping an eye on updates to travel restrictions, but also watching closely to see what the pound is doing if you want to get more for your money.”

“If your holiday is postponed due to changing restrictions, or worse still, cancelled completely, having a prepaid card means you can keep your holiday money safe in one place until you travel again. Alternatively, you can spend it in the UK without being at the mercy of poor buy-back rates, as you would be with leftover cash, which could see you lose out on even more money.