The average fares at Wichita Eisenhower National Airport (ICT) are down 1% from 4th quarter 2014 when factoring inflation, according to data released by the Bureau of Transportation Statistics. The bureau also noted that fares are down 31% from 2000, which is before low-cost carriers entered the Wichita market. In 2000, Wichita’s average fare was $569.55; in 2015, it was $391.62, a decrease of $177.92.
“The competition that low-cost carriers Southwest Airlines and Allegiant bring to our market is key to keeping fares affordable,” said Wichita Mayor Jeff Longwell. “Their presence encourages the other airlines to compete on fares to similar destinations, which drives down fares for everyone.”
Compared to regional airports, Wichita’s average fare of $391.62 is less than Oklahoma City ($401.89) and Tulsa ($408.61), but still higher than Kansas City ($362.28), a significantly larger market. However, the gap is closing and more passengers are using the Wichita airport rather than driving to another airport. The most recent study shows that Wichita is retaining 80% of its passengers. In 2001, Wichita’s retention rate was 56%.
Inflation Adjusted Average Fare Q4-2015
|4Q 2015 - 4Q 2014||-3.95||-12.29||-16.27||-21.29|
|% Change 2015 - 2014||-1%||-3%||-4%||-5%|
|4Q 2015 - 4Q 2000||-177.92||-19.38||-13.92||-2.24|
|% Change 2015 - 2000||-31%||-5%||-3%||-1%|