You might be wise to lock in airfare now if you want to save money on your summer vacation.
Several reasons, including the incidents surrounding the Boeing 737 MAX planes and the subsequent grounding of the aircrafts globally, are part of the forecast of fares rising this summer.
A CNN Business report cites airlines around the world having to make alternative plans as jets remain out of service and deliveries of new aircrafts are delayed ahead of the busy season.
“I think it certainly has the ability to pressure fares higher as we get into the busy summer months,” said Helane Becker, airline analyst, to CNN.
Airlines like Southwest rely on the 737 Max, while Air Canada and WestJet have 23 and 14 aircrafts, respectively.
Other factors, according to CNN include rising fuel costs, and reduced competition by carriers that have folded, like WOW Air in Iceland.