Expert: Be prepared for higher prices on plane tickets

It was on March 13th, when Public Safety Minister Ralph Goodale announced that Canadian airspace would be closed to Boeing 737 Max 8 and 9 aircraft.

The Max 8 was the same model plane involved in a pair of fatal crashes, one in Ethiopia and a second in Indonesia.

The cause of the crashes hasn't yet been confirmed, but Canada, along with most every other country, decided to err on the side of caution and park the planes until they could figure out what was up.

Since then, airlines like Air Canada, Westjet and Sunwings, have been scrambling to find planes and room for people who had already booked flights.

It appears though, that this isn't going to be a short-term problem, with the planes expected to stay parked until July.

What does that mean for us?

"They will genuinely face higher costs and capacity constraints, and since the reason for this is clear, I don't think they are going to hesitate in passing them on." says Ambarish Chandra, a proffessor of economics at the UofT

While he can't say how much airlines will be hiking their prices moving forward, he see's no other way around it.

"The problem is that it starts to coincide with summer travel and in general, demand for summer travel is higher." says Chandra.

But he admits that because of the highly publicized reasons behind the issue, people may be a little more accepting of the higher prices.