Airfares in Cyprus rose by 5% in August 2026 compared with the same month last year, while package holiday prices on the island increased by 3.7%, according to figures published by Eurostat on Friday. Across the European Union, passenger air transport prices fell by 0.4%, while package holidays rose by 3.2%, in line with headline inflation.
Greece recorded the largest annual increase in airfares in August, at 16.3%, followed by Ireland at 14.4%. Prices fell in 10 member states, with the steepest drop in Slovakia, where fares declined by 61.2%. In the remaining member states that recorded decreases, these ranged from 15.8% in Spain to 0.9% in Lithuania. For package holidays, the largest annual rise was in Belgium, at 16.2%, followed by Portugal at 14.3%, Sweden at 12.8%, Lithuania at 12.3% and Romania at 11.9%. Four member states recorded falls in package holiday prices, led by Estonia at 21.1%, followed by Spain at 5.2%, Italy at 4.8% and Ireland at 0.4%.
Sharp swings since January 2025
Eurostat said that both package holiday and passenger air transport prices have fluctuated sharply since January 2025, with airfares showing the greatest volatility. In April 2025, airfares rose by 13.7% year on year, before falling by 3.2% the following month. The swings continued into 2026, with fares falling by 2.9% in January and 4.7% in April, then rising by 8.1% in May. Package holiday prices rose by 8.3% in January and 8% in February 2025 compared with the same months a year earlier. In April 2025 the annual increase stood at 7.7%, while from June to October annual rates moved closer to headline inflation. In April 2026, package holiday prices fell by 0.5% year on year, before recovering in the following months to rise by 3.2% in August.
Source: CNA
