04/01/2023
Cheap Airfare in the current environment.An extinct option? There are strategies to minimize costs.
Thanks to the post-pandemic travel boom, you might have noticed that airfare prices have skyrocketed over the last few months. While (most) travel restrictions are something we can leave behind in 2022, expensive air tickets are unfortunately here to stay – at least for a while. Luckily, knowing the right time to purchase them can help you save.It’s all about the timing.
Some might say it’s best to book way in advance when demand for a certain flight might not have built up yet. Others might tell you to book closer to the date (as late as possible, even), so that airlines might drop their prices to increase their load factor.
But what does the data say?
According to online (known accurate sites) airline bookings surveys, Sundays are the best days to score cheaper tickets. Fridays are the worst – costing you 5% more on domestic flights and 15% more on international routes, compared to Sundays. While there’s not a sure-fire day to get cheaper tickets, it’s always good to keep this in mind when booking flights. Results from research also found that Wednesday is the cheapest day of the week for flight departures. Departing at the start of the week could cost you 15% more on domestic flights and around 10% more on international flights. This is because travelers tend to prefer departing on Sundays and Mondays, so the demand for flights on these days is higher. Flight status data from 2022 shows that flights after 3 p.m. are 50% more likely to be cancelled – so try to schedule your flights earlier in the day.
Length matters
The best time to book your flights depends on whether you’re traveling domestically or internationally. Domestic or short-haul flights tend to have more predictable pricing, while international or long-haul flights could fluctuate and end up costing more if you don’t book at the right time.
Domestic or short-haul Booking too far ahead could end up costing you 10% more, if it’s a domestic or short-haul flight. For such routes, it’s best to book one to four months out from departure. Domestic fares often rise around three to six months from the flight, so booking too early might cost you more. Popular tourist spots often see price-matching between airlines, especially among low-cost carriers like Ryanair, easyJet, and AirAsia, that need more passengers to cover their costs. With these, you might want to keep an eye out for sudden price drops. If budget airlines aren’t your thing, full-service carriers like British Airways have short-haul sales a few times in the year – typically in February/March and after the northern hemisphere summer. International or long-haul Normally, you can save up to 10% if you book international flights as least six months ahead.
Traveling across borders require much more planning than taking a local holiday, so it’s good to plan ahead when it comes to international or long-haul flights. Deals often appear one to two seasons before departure, so you might want to book your summer trip during winter and spring.
BUT, this is not a guaranteed thing. Currently, with such turmoil in the aviation world you can’t rely 100% on this trend. As things improve we may see aspects of this trend return.Lastly, avoid peak season travel and be aware of blackout dates, such as Christmas Eve, when many discounted fares don’t apply.Whilst there are online booking sites – beware.
The recent covid implications showed how problematic some online sites were. The best option is to either deal directly on an airlines website, or with a travel agent. Dealing directly on an airlines site does have one major disadvantage, which a travel agent does not have – they only promote their airline. Travel agents, via the international airline booking system can look at a large range of options and also look at combinations airfares (more than one airline), which in the end may be a much better option for your overall flight plans. You are also dealing with a contactable human so that if a problem happens you have someone working on your behalf.
