CVG has 2nd highest fares for 3rd quarter 2012

WASHINGTON, DC (FOX19) - The Greater Cincinnati - Northern Kentucky International Airport that the 2nd-highest fares during the third quarter of 2012, according to data released Thursday by the Bureau of Transportation Statistics.

The average fare at CVG was $519, second only to Huntsville at $522.

Fares are based on domestic itinerary fares. Itinerary fares consist of round-trip fares unless the customer does not purchase a return trip. In that case, the one-way fare is included. 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.

Average domestic air fares rose to $367 in the third quarter of 2012, up 1.8 percent from the average fare of $361 in the third quarter of 2011.

Not adjusted for inflation, the $367 third-quarter 2012 average fare is the fifth-highest average fare for any quarter since BTS began collecting air fare records in 1995. The highest was $385 in the second quarter of 2012.  The previous third-quarter high was $361 in 2011.  Third-quarter 2012 fares were $243 in 1995 dollars, down 18.1 percent from the average fare of $297 in 2000, the inflation-adjusted high for any third quarter.

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