Revealed: How to book cheap airfares for Christmas now

The current extreme economic climate and the restrictions on air travel caused by COVID-19 appear to have created the perfect storm for cheap flights and it's raining bargains across New Zealand.

Both Air New Zealand and Jetstar have airfares listed on their websites for travel on the days leading up to and following from Christmas Day and New Year's Day for as low as $49.

In previous years, flights between centres such as Auckland and Queenstown or Christchurch have sold for hundreds of dollars each way.

A Newshub spot check of the Air New Zealand and Jetstar websites on Friday revealed there are low prices from both.

Auckland - Queenstown:

Air New Zealand: 

Auckland to Queenstown - December 30: $79

Queenstown to Auckland - January 2: $95

Total (minus any booking fees or taxes): $174

Jetstar:

Auckland to Queenstown - December 30: $79

Queenstown to Auckland - January 2: $119

Total (minus any booking fees or taxes): $198

Auckland - Christchurch:

Air New Zealand:

Auckland to Christchurch - December 23: $49

Christchurch to Auckland - December 30: $49

Total (minus any booking fees or taxes): $98

Jetstar:

Auckland to Christchurch - December 23: $64

Christchurch to Auckland - December 30: $57

Total (minus any booking fees or taxes): $121

The International Air Transport Association (IATA) this week predicted airlines would amass further losses in 2021 as they drop airfares as low as possible in an attempt to win back business.

Forecasts predict the airline industry will lose NZ$153 billion in 2021.

International passenger numbers are predicted to drop to 2.25 billion this year before rising to 3.38 billion in 2021, which will still be more than 25 percent below 2019's number.

The airfares listed above are correct at the time of publication.