Rising airfares could pose a growing challenge for the cruise industry if elevated oil prices persist into the key 2027 booking season, according to a Deutsche Bank research note.
Based on a survey of more than 350 cruise travelers, Deutsche Bank analysts said 42% of respondents reported that higher airline ticket prices had already affected their cruise travel decisions. The impact was even more pronounced among travelers aged 18 to 34, with 61% saying rising airfare costs had influenced their plans.
The survey suggested many consumers are adapting rather than abandoning cruises altogether. More than half of respondents said they would choose a cruise departing from a port closer to home, while 46% said they were seeking cruise packages that include airfare.
Still, the report highlighted risks to future demand. About 45% of respondents said they were considering alternative vacations such as land-based resorts or road trips to avoid costly flights, while 43% indicated they were somewhat or very likely to postpone or cancel a future cruise because of high airline costs.
Deutsche Bank said the findings point to increasing price sensitivity among cruise customers and could complicate efforts by cruise operators to maximize occupancy and pricing if airfares remain elevated heading into the 2026-27 wave booking season.
