CVG posts largest drop in airfares

CINCINNATI, OH (FOX19) - Average domestic air fares in the second quarter of 2009 fell to the lowest they've been in over ten years.

The fares dropped 13 percent from the second quarter of 2008, the U.S. Department of Transportation's Bureau of Transportation Statistics (BTS) reported Wednesday.

The Greater Cincinnati-Northern Kentucky International Airport posted the biggest year-to-year average decrease with 38.7 percent. The average price of a ticket from CVG dropped from $593 to $364. Fares are based on the total ticket value which consists of the price charged by the airlines plus any additional taxes and fees levied by an outside entity at the time of purchase. Fares include only the price paid at the time of the ticket purchase and do not include other fees, such as baggage fees, paid at the airport or onboard the aircraft. Averages do not include frequent-flyer or "zero fares" or a few abnormally high reported fares.

CVG also post the 12th-highest airfares in the country. The airport. have been ranked in the top five for several years.

A full report on second quarter airfares is available here.

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