Fewer people are flying as airfare soars. Here's why airlines aren't worried

Travelers navigate security lines at Minneapolis-St. Paul International Airport Terminal 1 on March 23, 2026 in Minneapolis, Minnesota.Stephen Maturen | Getty ImagesFewer people are flying this year, but with airfare this high and climbing, airline executives say that's just fine.The number of people screened at U.S. checkpoints is on track for its first annual decline since 2020. Major U.S. carriers have said capturing higher fares is more important than fully filling their planes or flying record numbers of travelers."We're actively prioritizing yield versus load factor and really happy as we see it. It fits right in with the premium investments that we're making," American Airlines Chief Commercial Officer Nat Pieper said on the company's earnings call Thursday. American's load factor, a gauge of how full planes are flying, fell to 83.4% in the third quarter from 86% in the same quarter of 2025.Fares keep climbingThe price of plane tickets has skyrocketed as airlines grapple with a spike in jet fuel prices, their biggest expense after labor, and pass more of those costs on to customers.Fares in September were up more than 22% from a year earlier, according to the latest inflatio...