This post is part of the Ask Alex, Travel Question Wednesdays weekly series. To see previous questions click here. To submit your own; tweet it to @AlexBerger, ask it in a comment on this post or send it in by e-mail.
A quick introductory note – When I began authoring VirtualWayfarer in July of 2007 I never expected that I’d still be blogging on travel, adventures, study abroad and everything that goes with it nearly five years later. Over the years I’ve had a lot of questions and luckily my friends, network, and more than a few random strangers have gone well out of their way to answer those questions. While I still find myself asking questions on a regular basis I’ve found that I can also pay it forward as a resource for friends, my readers, and strangers alike. In an effort to share what I’ve learned from my various adventures I’ve launched Travel Question Wednesdays. I’ll be answering one reader-submitted question every week. You are all encouraged to submit, and all past questions will be archived and available as a resource for readers of this blog. I’m going to take a very open approach to the topics I’ll cover, so feel free to ask me just about anything , just keep it somewhat travel related.
This week’s travel question is from Kate K. she asks,
Q. “When is the best time to buy plane tickets? Are the rumors on when to buy true?”
A. – The simple answer concerning many of the rumors tied to airfare is yes, they still hold true. Despite significant disruption within the industry and major consolidation over the last decade the actual dynamics of pricing and booking flights for more traditional airlines haven’t changed much. For the cheapest tickets, you should plan on flying on a Tuesday, Wednesday or Saturday. If you don’t have time to hunt aggressively for airfare, watch for airfare specials, or to fiddle with your departure dates, the conventional wisdom that booking 1-2 months ahead of time is also likely your best bet.
However, as with most travel related questions there are a number of exceptions. When booking airfare you need to differentiate between budget airlines and traditional airlines. While booking several months in advance with a traditional airline is likely to give you a middle-range/better than average price there’s no such guarantee with a budget airline. This is because budget airlines tend not to be that cheap on a standard flight basis. If we use industry leader RyanAir as an example their generic sticker price is often fairly comparable (and sometimes more expensive) when compared to a traditional airline. Users booking with a budget airline should always book at least 1 week in advance, but also need to monitor the company’s website regularly looking for one of their specials or sales. These sales are often held several times a month and will drastically alter the cost of your ticket turning $150 tickets into $10 tickets, etc. In these cases individuals booking ahead of time without doing their research are almost guaranteed to get an inferior price.
When booking with more traditional airlines it’s important to keep in mind that the airlines have a variety of tiers set up for seats on each flight. While the seats themselves are identical, the airline only offers a certain number of seats in each price range. The more demand, the fewer budget seats available and the higher the price. In the past when airlines were more inclined to under-book aircraft you’d see prices fall closer to departure as the companies rushed to fill empty seats. Now, with most flights overbooked you’ll find this happens far less often making last minute ticket purchases far more risky (and expensive!). This approach to pricing seats is why you’ll see significant fluctuations in pricing from day to day. The advantage of booking early is that it locks you into one of the cheaper ticket tiers. The challenge can be that it also means you may miss airfare specials, or price drops intended to help fill a flight that isn’t experiencing the same demand the airline expected. It’s also worth noting that in my experience airfare prices tend to be pretty stable 3+ months out. While prices vary somewhat, it’s really only in the three months before a flight that you’ll see prices start to shift radically from day to day.
If you know you’ll need to fly on a Friday, Sunday, Monday or close to a major event or holiday your best bet is likely to book as far in advance as you can. The same goes if you’re not able or willing to dedicate the time to monitoring and hunting for airfare. On the other hand, if you’ve got a little time to dedicate to the search, and are traveling on an off-peak period I’d suggest giving yourself a month or two to watch fares before eventually deciding to book. If you have a fairly inflexible schedule and are set on a specific destination, I usually recommend that people book airfare with a traditional airline at least 25 days before their flight. If, on the other hand, you’re looking at a budget airline I’d aim to have your ticket purchased at least a week before the flight.
More/specific questions about airfare? Let me know in a question and I’m happy to do my best to respond to them! You can also visit my Travel Resource List site for a selection of useful airfare search tools.
This post was brought to you in part by Waikiki hotels.