Last week, we talked about how much the airline business has changed in the last several decades. Those changes are about more than just mergers and acquisitions – they affect the timing of ticket prices too.
It used to be that the earlier you bought a plane ticket the better – but not anymore. Buying too far in advance can mean missing out on discounted fares offered as the departure date approaches – but wait too long, and you might be stuck with sky-high fares (or a sold-out flight!)
Here are a few tips to help you save money on your next flight:
Airlines price tickets based on expected buying behavior. The suggested “best time” to buy:
- Around 8 weeks before departure according to economist Makoto Watanabe.
- Around 6 weeks before departure according to airline reporting data.
Money-saving tips
- For international flights, the best fares may appear about 4 months before travel (or about 5 months for international trips).
- Ticket prices can change up to 3 times per day.
- Sign up for email fare alerts to track price drops.
Best and worst travel days
- Sunday is usually the most expensive day to fly.
- Holiday travel is an exception. Buy tickets as soon as possible because prices rise quickly.
Other things to consider
- Discounts are commonly released early in the week.
- Avoid always buying the cheapest fare immediately. Waiting briefly can sometimes lead to a better deal.
- Prices rise quickly closer to departure. In the week before a flight, fares can increase by 40% or more.
Recommended booking/flying days
- Buy tickets on Tuesday or Wednesday
- Fly on Tuesday, Wednesday, or Saturday for better prices.
