Are last-minute flights cheaper?

It’s often assumed that to find the lowest plane fare possible, you either need to book really far in advance or incredibly last minute. The obvious downside to booking last minute is the uncertainty; there’s no guarantee that you’ll be able to buy a ticket so close to the departure date. 

However, if you’re saving a substantial amount of money on the plane ticket, it can outweigh the unpredictability right? But, are last-minute flights actually cheaper? Let’s investigate!

How airline pricing works 

Airfares are dictated by something called dynamic pricing, which takes factors like demand and availability into account to change the ticket cost in real time. As such, ticket prices can fluctuate multiple times a day.

This change in pricing happens right up until the departure date, and as cheaper seats sell out, only the higher-priced tickets remain.  

Are last-minute flights actually cheaper?

In short, no. It may have been the case many, many, many years ago that last-minute flights were significantly cheaper, but in modern air travel, this doesn’t fly. Due to dynamic pricing, taking availability and demand into account, flight prices generally rise as the takeoff date nears and cheaper airfares sell out. 

Data shows that booking last-minute is actually incredibly costly. An analysis of fares of the New York to London route found that booking within 48 hours of departure resulted in a 287% price increase compared to booking in advance.

Airlines can often bank on the fact that people traveling last minute are generally doing so for important reasons and will pay the more expensive airfare for the short notice. 

When are last-minute flights cheaper?

There are rare occasions when a flight price drops close to departure but it’s usually in specific circumstances.

• Off-peak travel times: In off-season travel periods (like winter) or on low-demand routes, airlines may drop prices last minute to entice ticket sales. 
• Flash sales: Budget airlines, in particular, tend to hold flash sales every now and then, and this is a good time to jump on a last-minute flight deal.

When are last minute flights the most expensive?

Seasonality plays an important role in ticket pricing, and on-peak, high-demand times of year generally result in the most expensive flights. 

Unfortunately, even when booked in advance, certain periods will always be on the pricier side; for example, Thanksgiving, Christmas and summer holidays. With this in mind, scoring a last-minute deal during these periods is also going to be expectedly expensive. 

If you need to take a flight on short notice in late December, around the Christmas and New Year frenzy, you can expect to pay an eye-watering amount for your ticket due to seasonal demand. While last-minute tickets are rarely cheap, they do fluctuate, but busy times of year are particularly pricey. 

How to find last-minute deals 

While rare, you might be lucky enough to land a last-minute deal, if the stars align. However, there are a few things to keep in mind when looking for a cheap deal at the last minute. 

• Use fare alerts: Sign up to receive fare alerts from your preferred airlines and when they send deals on short notice, you’ll be notified and can grab a deal.
• Don’t forget about budget airlines: While it might not be the most deluxe way to fly, budget carriers often advertise flight sales, particularly in off-peak periods, and this is a great way to land a cheap, last-minute flight. 
• Change your airport: Flying into smaller airports, especially in cities, can sometimes make your ticket a little cheaper. For example, if you’re booking a flight to London, try setting your arrival for Stansted Airport rather than Heathrow and see if this makes a difference.‍
• Be flexible: Last-minute travel requires flexibility, full stop, but if you can be flexible with the dates and times you travel, you’re probably going to be able to find a cheaper last-minute fare. You might also have to be flexible with stopovers and long layovers when purchasing a last-minute ticket. Flights with extended layovers or multiple stops tend to be cheaper, while direct flights cost more. 

When should you actually book?

If you can plan your travel in advance, we generally recommend doing this as it helps save on cost. 

There's no exact science on how far in advance, or the best day to book a ticket, but you do want to leave yourself at least a month before travel for a domestic trip, and closer to 3 months before an international flight. While this can’t always be planned, it is usually the most affordable way to book tickets. 

If your bank balance is playing a role in waiting to book your flight, this is where we come in (and literally why PayLater exists!). We give you the freedom to travel when you both need to and want to. 

Our innovative layaway model allows you to lock in great travel deals today, with a small deposit, and pay the remainder off in weekly instalments. 

Secure the best flight deals before they’re gone and enjoy flexible payment plans. By locking in your fare now, you spread the cost of your ticket over weeks, making each payment lighter on your wallet. And instead of worrying about when to buy your ticket, you can use this time to plan your upcoming trip.  

Book Now, Pay Later allows you to hack how you travel — fly comfortably, without the upfront payment.