Uk Air Fares Are Below The Price For Travel All Over The World

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UK Air Fares are Below the ‘Correct’ Price for Travel All Over the World On August 25th 2013, The Independent published an article, claiming that ‘UK air fares are below the 'correct ' price for travel all over the world’ . We investigated the equation linking airfare and flight distance proposed by online transport search engine Rome2Rio, on which The Independent had based their claim. We found the equation to be too generalised, many factors that affect the price of airfares were not taken into account. We have therefore suggested solutions in order to improve the model. We conclude that the suggestion by the article: ‘most passengers flying from Britain pay significantly less than the global average’ , is not justified, nor that…show more content…
Therefore, it is easy for customers to wonder if they have paid the right amount for the flight. Here the question arises: what is the ‘correct’ fare to pay for a flight? Researchers from an online multimodal transport search engine, Rome2Rio, made an analysis on airline fares, in order to answer that question. In an article on their blog, they presented the equation for average price depending on distance as : Airfare [USD]=$50+$0.11*Distance [Miles] (1) If the equation is found to be accurate it could serve as a respectable point of reference for travellers in a fluctuating industry. Section 2 - Derivation of the Equation for Airfare Rome2Rio’s equation is based on individuals searching for airfares on their website. They collected 1,780,832 corresponding price points and flight distances for economy class fares (‘the cheapest class of air or rail travel’ ), which were displayed for the website users over a 4 month period . As a single search displays hundreds of results, including high prices that would never be purchased but only inflate the median , the researchers decided upon taking the 20th percentile (20% of the prices were below and 80% were above). Dr Michael Cameron, co-founder and Chief Operating Officer (COO) of Rome2Rio, told The Independent that ‘it better represents the fares travellers would actually purchase’ . Plotting the typical fare
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