Airfares rose two percent year-over-year in June – and continue to soar above pre-pandemic levels. Figures from Statistic Canada’s consumer price index show the increase follows a 4.5% year-over-year bump in May and a fairly flat April. Prices also stood nearly 19% above what travellers paid for their plane tickets in June 2019.

The pricier fares stem partly from limited competition and flight capacity among airlines, which more than offset softening demand since the post-pandemic travel boom.

National Bank analyst Cameron Doerksen says fares have risen for most of the year – including on key domestic routes – following an 11-month stretch of year-over-year declines, mainly in 2023.

However, he believes WestJet may need to lower its prices in the short term to lure back customers after a two-day mechanics strike that prompted more than 1,300 flight cancellations and upended plans for at least 170,000 travellers.