New Delhi, May 13 -- Indian holidaymakers have seen some relief on airfares, with domestic ticket costs down 4% year-on-year so far in FY26, but overall travel costs aren't easing just yet as hotel rates remain firm due to limited supply, Mahesh Iyer, managing director and CEO of Thomas Cook India, told Mint.

Iyer said while international airfares are flat compared to last year, a stronger euro-up 5% versus the rupee over the past year-could dent European travel demand. However, relative stability in the US dollar vs the rupee (USD is up 1.9% versus INR over the past year) means Indians are holidaying in the US at levels similar to last year, he added.

The sharp rise in the euro is expected to hit international outbound tourism, especia...