Fewer people are flying this year even as airfares climb. Airline bosses say that trade-off is fine, CNBC and NPR reported. Checkpoint checks in the United States are on track for the first yearly drop since 2020, CNBC said. Big carriers say higher fares matter more than full planes or record passenger counts, CNBC reported.

Jet fuel, one of airlines' biggest costs after labor, reached an average $4.90 a gallon in the United States on Thursday. That is the highest single-day average Argus has recorded. It is more than twice a year ago, NPR reported. September fares were up more than 22% from a year earlier in the latest inflation read, CNBC said. Hopper lead economist Hayley Berg said airfares are at a 10-year high because of jet fuel. She said Thanksgiving tickets are up about 30% and Christmas tickets more than 20% from last year, NPR reported.

American Airlines commercial chief Nat Pieper said the carrier is "actively prioritizing yield versus load factor," CNBC reported. American's load factor fell to 83.4% in the third quarter from 86% a year earlier, CNBC said. Southwest's average fare rose close to $50 year over year to $231.69. Revenue passengers fell 3.2%. Yet both fares and volumes still beat Southwest's forecast, CNBC reported. Hopper expects the most costly holiday ticket prices in years, CNBC said. Berg said holiday travel is sticky and many travelers still pay for big trips, NPR reported. Some travelers are already putting off warm trips after sticker shock at the counter, NPR's airport talks suggested.

What we know: Jet fuel hit a record daily average. Carriers are choosing higher fares over fuller planes as passenger counts soften.
What we don't: How far holiday demand will hold if prices keep rising.