Air travel costs remain elevated due to high demand

Airfares and hotel prices have fallen from their pandemic highs, but they remain higher than before COVID-19. Gaurav Bhatnagar, a leader at TBO Tek, believes these prices will not return to 2019 levels soon. He advises travelers to book early since prices usually do not decrease. Airlines are increasing seat availability, and issues with aircraft production are improving. In India, airlines like Air India and IndiGo are expanding their fleets to meet growing demand. Bhatnagar mentions that demand for travel is recovering well in regions such as the Middle East, although it is slower in the Asia-Pacific area, particularly due to challenges in Chinese travel. Despite ongoing global issues, such as geopolitical tensions and political unrest in the U.S., the travel industry has remained resilient. A year ago, travel was very expensive due to a supply-demand gap, but prices have now stabilized to more reasonable levels. TBO Tek, founded in 2006, offers various travel services and is expecting strong growth in the coming year. With Ramadan arriving early, the company anticipates a busy summer travel season. Bhatnagar also noted that travelers are willing to spend more on luxury experiences. In Saudi Arabia, TBO is working to grow tourism beyond religious travel by developing leisure opportunities. Bhatnagar stated the company is focused on expanding its market reach and investing in new areas globally. Currently, TBO Tek employs around 2,300 people, and plans to grow its sales team to enter new markets swiftly.