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WEDNESDAY, NOVEMBER 25, 2009
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Airfares May Sag in '09: Report

Declining demand, dropping oil prices likely to bring prices down

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(Newser) – The slumping economy may bring some good to the travel industry: Domestic airfare and hotel rates could fall next year as strapped individuals and companies think twice about globetrotting. A slash in oil prices, down to half of summer’s record high, has also brought airlines relief, Reuters reports. In its annual forecast, American Express sees declining demand as travel budgets become a “boardroom issue.”

Companies are reconsidering business travel as they look for ways to cut costs.
Companies are reconsidering business travel as they look for ways to cut costs.   (AP Photo)
North American flights will likely be emptier next year, possibly resulting in cheaper fares to woo back customers.
North American flights will likely be emptier next year, possibly resulting in cheaper fares to woo back customers.   (AP Photo)
Hotel rates could also drop, or at least hold steady, as fewer rooms get booked by corporate travelers.
Hotel rates could also drop, or at least hold steady, as fewer rooms get booked by corporate travelers.   (AP Photo)
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