For SMU students whose families reside outside of Dallas, and especially outside of Texas, the current economic recession has made their time at home even more precious. Families are buckling down and cutting back on spending during these hard times, which for many students means fewer opportunities to fly home during the semester.
“Money needs to be spent in other ways than plane tickets. You don’t just have $500 laying around anymore,” said Sean McGarvey, an SMU junior from Jacksonville, Fla.
McGarvey’s parents recently visited him for his 21st birthday, but he said that will be the last time he sees them until the middle of the summer.
“I used to fly home three times a semester freshman year, but now I go one time at the most,” said McGarvey.
McGarvey admits that some of it has to do with getting older, but even if he wants to fly home he does not have the option.
Brenden Hexberg, a junior from Orange, Calif., can no longer fly home when he wants too either.
Hexberg admits his schedule is pretty full, but even when he finds the time, he says its not worth the price.
“If I could have found time during fall break I still wouldn’t have. It was too expensive,” said Hexberg.
According to the U.S. Department of Transportation’s Bureau of Transportation Statistics, airline fares hit an all time high during the second quarter of 2008. The average airfare was $352, up 8.1 percent from the second quarter of 2007.
The trend continued in the third quarter. According to the bureau, the average domestic airfare was $362, a 2.8 percent increase from the second quarter. Airline experts attribute this to the jump in oil prices during the summer of 2008, which in turn drove up the price of jet fuel.
The drastic increase in prices and the plunging economy have driven many would-flyers away. The bureau predicts there will be 41 million fewer passengers in 2009. Data for the fourth quarter of 2008 has not been released, but travel giant AAA predicted in early December that holiday air travel could drop as much as 7.2 percent compared to 2007.
The drop in air travel has created a silver lining for SMU students. Many airlines are slashing prices in order to fill empty seats and keep their companies aloft. AirTran Airways announced it will have a fare sale for all its destinations through Nov. 4. American Airlines, Continental Airlines, United Airlines, US Airways and Delta Air Lines have already matched AirTran’s prices on routes where they compete. JetBlue has said it also intends to match AirTran’s sale.
McGarvey admits, while he has not been able to go home because of air travel prices, he is now getting to go on a spring break trip thanks to the airlines’ sales.
Spencer Davis, a senior economics major, is also benefiting from the plunge in prices.
“I bought a ticket to New York a week ago for $285. The day before it was $310. Saved me $25,” said Davis.
