Best Time To Buy
So, how do you know when that magical moment has arrived? CheapAir did some of the footwork for you. The company monitored air travel fees for some 5 million flights in 2014, comparing the cost of bookings from 320 days in advance of the desired flight time to just one day. The research pinpointed 47 days pre-flight, on average, as the time at which fares were likely to be at their nadir.
“Window” Opportunity
From 114 days to 27 days, however, were identified as a “window” of opportunity during which it is worthwhile to shop for the best airfares. If you wait until only 14 days before you plan to fly, the price may jump by an average of $174. By that point, the airlines know you are likely to pay what they ask. Booking too early, on the other hand, can raise the price by an average of $50 per ticket, the CheapAir review found.
Book Early
Of course, there are many factors that affect prices, including dates and destinations. The research organization suggests early booking for holiday and standard vacation times in the area in which you are interested. If your travel group includes more than four people and you want to be seated together, early booking will be better. Start checking fares once a week as soon as your plans seem firm, to get a sense of the market. If you see a good price, go for it. It is more likely to rise than to fall further.
Information is available from airfarewatchdog.com, cheapair.com or kayak.com, which regularly monitor airfares.
International Travel
Fares for international travel do not fluctuate as much as those for domestic flights. If you are leaving the country, book early. Sales open 335 days before departure, CheapAir says. About 90 days before the departure date, fares start rising rapidly. If Europe is your destination, book at least 276 days in advance to get the best price. The best opportunities for cheaper tickets to the Caribbean is 144 days in advance; to Asia, 318 days; Africa, 262 days; Mexico, 251 days; South Pacific, 244 days; Middle East, 213 days; Central and South America, 96 days.
Be Flexible
Allowing yourself a little flexibility can also save money. Booking flights with connections or those that leave either early in the morning or late at night are cheaper. Tuesday, Wednesday and Saturday are the days when fares tend to be lower.
Price Drop Rebates
Many airlines and travel agencies will give you a rebate if your flight’s price drop below what you paid. Often the rebate will come in the form of credits or vouchers. Sign up with Yapta.com to receive alerts about falling prices. But be aware that some airlines will charge a big fee for re-booking a flight to a lower price. If the fee outweighs the difference in the fare price, obviously, you don’t want to consider it. CheapAir offers a $100-per-passenger credit if the price of your ticket drops. That avoids a fee for rebooking.
Finding the best fare may take some time and effort, but the savings will make it worthwhile.