How to Save on Summer Airfare
May 23, 2017
By: Jean Chatzky, Editor in Chief, SavvyMoney
“Aruba, Jamaica, ooh, I wanna take you to Bermuda, Bahama, c’mon…”
You don’t have to channel John Stamos to know the drill. And if you’re
checking off any destinations on your own travel bucket list this
summer? Well, the decision of when — and which carrier — to fly has
obviously gotten more heated over the recent weeks. (And we’re not just
talking about summer flight prices.) Here’s how to figure out if you’re
getting a deal, a steal or something not so desirable.
The lay of the land
The average domestic airfare this week (the week of May 14th) is
about $286, says Kelly Soderlund, spokesperson at Hipmunk, a flight and
hotel search aggregator. Domestic prices should creep up near the very
end of May, then taper off and spike again towards the end of August.
For reference, domestic flight prices are currently up about 10 percent
compared to last year, says Patrick Surry, chief data scientist at
Hopper — but international flights are down 15 percent, says Soderlund.
And if you’re aiming for Europe? Trans-Atlantic flights are the cheapest
in four or five years by 20 percent.
How to search
Sign up for fare alerts from flight deal websites like Opens a new window
Scott’s Cheap Flights, Opens a new window
The Flight Deal and Opens a new window
HolidayPirates
— they’ll email you about low fares and special offers. When it comes
to searching domestic fares, Google Flights is your friend — it also has
a price prediction tool, which will tell you, after you’ve selected a
flight, when that fare is set to expire and how much the new one might
be based on historical data. For international flights, Kepnes
recommends Opens a new window
Momondo,
which compares fares on big and small booking sites all over the world.
And if you’re planning a shorter flight? Take advantage of the new
“basic fares” offered on select routes by legacy carriers like United,
Delta and American Airlines. Note that “basic” is an accurate descriptor
here — for example, customers likely won’t be able to check bags — but
these fares can be about 20 percent lower, says Soderlund. When
available, these will pop up on the flight search tool on an airline’s
website next to the other seat class options. For example, a one-way
Delta flight from New York City to Atlanta on the morning of June 8 will
currently cost you $183.20 for a basic economy fare and $198.20 for a
main cabin fare.
Flying in a group? It’s important to know about a glitch in the
reservation system that’s been around for almost three decades, which
requires all the seats in one reservation to be at the same price level,
says Rick Seaney, co-founder and CEO of FareCompare.com. So, for
example, let’s say you’re buying four tickets for your family. If there
are only three seats available at a lower price point, and the last seat
is only available at a higher price point, the search will bump up all
four seats to the more expensive price point. To avoid this, search for
just one seat and make note of the price. Then try searching for two,
then three, then four. If the total ever jumps higher than it should be
(the number of seats you’re searching for multiplied by that original
price for one seat), go ahead and buy as many of the cheaper seats as
you can, then pay the more expensive rate for the leftover seat(s). For
peace of mind, know that most airlines now have a 24-hour money-back
guarantee, so you’ll have time to correct seat assignments and cancel if
need be.
When to shop
Rule number one? “The best time to book your flight is when you’re
ready to book your flight,” says Matt Kepnes, founder of budget travel
site NomadicMatt.com — meaning if you’re ready now, don’t put it off
waiting for a “magic day” to buy. That’s because “airlines are
constantly changing ways they display prices because they want to avoid
people gaming the system,” says Soderlund. Rule number two? Do your
absolute best to purchase before the 30-day window. “Any time you’re
inside a month, you’re playing right inside the airlines’ hands,” says
Seaney. Why? Airlines have over a decade of digital history on customer
shopping patterns, and a little over two-thirds of tickets are sold
within a month of departure. “When you’re inside 30 days, they’re
managing you instead of you managing them,” he says. The next thing to
know is that almost every flight has about 12 different price points for
the same seats, says Seaney. So you could have paid $100 for a seat on a
one-way flight, but the person next to you could’ve paid $700 or $800
for the same kind of seat — it all depends on when you shop. If you’re
flying domestic, start shopping no earlier than three months ahead of
time — any earlier and you won’t be offered any of the cheaper price
points. As far as international, you can start comparing fares as soon
as five months in advance.
When to buy
When it comes to pressing that “Purchase” button, know that about
two-thirds of all U.S. domestic flight sales occur Monday nights, says
Seaney, but it’s better to shop on Tuesday afternoons. On weekdays,
airlines can “file” (or change) domestic fares four times a day at 10:00
a.m., 1:00 p.m., 4:00 p.m. and 8:00 p.m. EST. (International fares can
be changed hourly.) So an airline will change a trip fare on a Monday,
and the other airlines aren’t able to see the competing fares until
10:00 a.m. EST on the next day, Tuesday. (It’s extremely complicated.
But these rules mean that they then scramble to match the other
airlines’ fares at 1:00 p.m. EST Tuesday. The new fares hit reservation
systems between 30 and 90 minutes after the filing appears, depending on
the system. That means the sweet spot for competing fares is usually
around 1:30 p.m. to 3:00 p.m.) Just trust us on this.
When to fly
As always, flexible is the best thing you can be when it comes to
purchasing airfare. Flying midweek is often 5 to 10 percent cheaper than
other times, says Surry. Head out Saturday morning instead of Friday
night if you can. The cheapest days of the week to fly are Tuesday,
Wednesday and Saturday, and the most expensive are Monday, Friday and
Sunday, says Seaney. Even if you can’t avoid flying on one of the
latter, you can save by, say, booking a trip leaving Tuesday and
returning Sunday, or leaving Saturday and returning Wednesday. For
international trips, Monday through Thursday are the cheapest days to
fly especially if you’re going trans-Atlantic. “Saturday to Saturday to
Europe is generally $80 more expensive than going Tuesday to Tuesday or
Wednesday to Wednesday,” says Seaney.
The takeaway
To boil this down to the essentials: Sign up for fare alerts from deal websites like Opens a new window
Scott’s Cheap Flights, Opens a new window
The Flight Deal and Opens a new window
HolidayPirates. When you’re booking domestic, search using Google Flights, and for international, try Opens a new window
Momondo.
Book your flight as soon as you’re ready — don’t wait for a “magic day”
— but do know the best time to shop for competitive fares is Tuesday
afternoons, usually between 1:30 p.m. and 3:00 p.m. EST. And when
booking, know the cheapest days of the week to fly are Tuesday,
Wednesday and Saturday. Happy flying!
Posted May 23, 2017 by Jean Chatzky
Back to Blog