Surging demand drives Trevolution Group’s H1 2024 airfare sales to USD 639 Million

Trevolution Group, operating ASAP Tickets, Skylux Travel, Oojo, Triplicity, Dreamport, and other major travel brands, has reported commercial results for the first half of 2024, yet again surpassing record high volumes in airfare sales. During the first six months of 2024, the Group’s total gross bookings reached close to 639 million USD, stemming from over 510,000 sold tickets across its travel brands. This indicates a 20% increase in processed ticket volumes compared to the same sales period last year and a major 129% growth in comparison to the pre-pandemic years. Along with strengthening its corporate travel management segment and introducing Dreampass, a new generation travel super-app, Trevolution Group rapidly continues its global expansion with new advanced travel services launching in the second half of 2024.

• Gross travel bookings, which refers to the total dollar value, generally inclusive of taxes and fees, amounted to 638.74 million USD, indicating a 6% increase compared to the six-month period in 2023;
• The number of unique tickets issued reached 510,436, increasing by 20% vs. H1 2023;
• Economy class has shown a stable increase, going up in demand by 22%;
• The share of round-trip tickets amounted to 70% of all tickets sold;
• The number of auxiliary products and services increased by nearly 26% vs. the first half of 2023.

Being a global travel market leader for over two decades, Trevolution Group has developed broad expertise in the Visiting Friends and Relatives (VFR) segment. The VFR form of travel is also strongly indicated by its most popular travel destinations, with the United States, India, the Philippines, Italy, and Nigeria being the top five most-visited countries so far this year. Compared to 2023, ticket sales to Italy have grown significantly, by 99%, and to India by almost 37%, while the US has shown a 24% growth, and Nigeria – another 17% increase, surpassing the United Kingdom, which was listed among the top five travel destinations in the same period last year. Likewise, Canada has emerged among the fastest-growing destination countries in the first half of 2024, with a rapid 90% increase in flights purchased by the Group’s international customers. A similar pattern was observed when defining the leading departure countries, where the United States, Canada, the Philippines, and India traditionally emerged among the most popular locations from which travelers flew.

Similarly to the previous year, most air passengers, or 90%, chose to fly Economy class, and one in every 11 travelers flew Business class in the first half of 2024. In addition to this, round-trip was the most frequently selected trip type with an average of 2.3 times more tickets sold compared to one-way trips. It also indicated an almost 13% increase in sales, while the share of one-way tickets went up by over 45%. Also, along with the global inflation that is gradually slowing down, the average ticket price has decreased slightly during the first six months of this year, with Economy class showing a 13% fall compared to last year, and Business class remaining at almost the same level where travelers are less sensitive to airfare fluctuation. Meanwhile, United Airlines, Turkish Airlines, Philippines Airlines, American Airlines, and Qatar Airways were the most-used air travel providers that Trevolution Group’s customers gave preference to in the first six months of 2024. However, Lufthansa and British Airways showed the most significant increase in global flight sales, surging by 99% and 73.5% vs. H1 of 2023.

According to the latest sales data, along with the returning travel confidence, the average advance purchase period continues to increase to the pre-pandemic levels when travelers would plan their trips further ahead in order to secure better deals. Thus, in the first half of 2024, almost one-third of airline passengers booked their flights over three months in advance, compared to 19% back in 2022 and 49% in 2019. Meanwhile, only 16% chose to secure their travel plans up to 10 days ahead, almost 10% bought airfare tickets 11 to 20 days in advance, and another 8.5% purchased their tickets 20 days up to a month in advance, showing a similar travel-booking pattern to the first six months of 2023 where one-third of the flights were booked over 90 days in advance and another 33% were last-minute bookings up to 30 days prior to departure. Meanwhile, the average length of stay abroad has decreased by 1.5 days in H1 of 2024 vs. 2023, with 25.5 days being the average period customers currently spend abroad enjoying leisure tourism or visiting their friends and relatives.

“Despite the global economy struggles, we have experienced a stable 20% increase in ticket volumes and have surpassed not only last year’s figures but also the pre-pandemic levels. As we continue to develop and improve our extensive travel product portfolio to increase customer satisfaction, we are now focusing our efforts on presenting a new, exciting product to the market – an all-in-one travel super-app Dreampass that will enhance customer engagement even more,” Alex Weinstein, the founder of Dyninno Group of Companies commented.

Trevolution Group, which operates International Travel Network, ASAP Tickets, Skylux Travel, Dreamport, Oojo, and other travel brands, has established itself as the market leader in the travel business, specializing in the Visiting Friends and Relatives segment. Over 840,000 unique airline tickets and vacation packages were sold by the companies under the Trevolution Group brand in 2023, making it the fourth-largest airline ticket consolidator in the US.