IPA: /ˈɛərˌfɛr/
KK: /ˈɛrˌfɛr/
The cost of a ticket to travel on an airplane.
The airfare to New York has increased significantly this year.
Airfare is formed from "air" (from Old English "aer", meaning the atmosphere or sky) and "fare" (from Old English "faran", meaning to journey or travel). The word "airfare" refers to the cost of traveling through the air, typically by airplane.
Think of 'air' as the atmosphere you travel through and 'fare' as the cost of your journey — that's how 'airfare' represents the price of traveling by air.