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On the Move · Tokyo · 27 Jun 2026 · 06:42 GMT+7

Fares to Tokyo fall for the first time since 2023

A 12% drop in median round-trip economy is the first sustained easing in two years, as capacity finally catches demand.
HB
By Hugo Bellamy
On the Move desk · 27 Jun 2026
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Tokyo
On the ground in Tokyo
Key takeaways
Median lead-in economy round-trips to Tokyo fell 12% quarter-on-quarter to US$1,240, the first sustained decline since 2023, according to settlement data.
For the traveller, the signal is clean: the floor is lower than it has been in two years, and forward inventory suggests it holds through the third quarter.
Whether the drop persists depends on two things the data already hints at: premium-cabin demand, which is holding, and the yen, which is not.
−12%
median fare QoQ
ARC
2023
last decline
WTB index
US$1,240
current median
ARC

Median lead-in economy round-trips to Tokyo fell 12% quarter-on-quarter to US$1,240, the first sustained decline since 2023, according to settlement data. The easing tracks a capacity recovery that has outrun demand for two consecutive quarters.

For the traveller, the signal is clean: the floor is lower than it has been in two years, and forward inventory suggests it holds through the third quarter. For the trade, the read is more delicate, yields are compressing on a flagship long-haul market just as fuel turns favourable.

Whether the drop persists depends on two things the data already hints at: premium-cabin demand, which is holding, and the yen, which is not.

Tokyo
On the ground in Tokyo
By Hugo Bellamy · WorldTravelBrief
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