Sometimes flight prices can fall, but it’s not always that simple.
Flight prices fluctuate on a daily basis, making them tricky to pin down. Plus, it often seems like flight prices just go one way and that’s up. All of this makes it difficult to know exactly when is the best time to buy your ticket.
That said, we’ve all heard stories of someone snagging a flight for a fraction of the usual price. So, do flight prices ever go down? Let’s look into it.
Flight prices are very complicated and are influenced by several factors including supply, demand, seasonality, historical data and competitor pricing. Airlines use complex algorithms to monitor all of these factors and adjust ticket prices accordingly, which is why they change every day. This is called dynamic pricing.
The way dynamic airfare pricing works can make it feel like ticket prices are constantly going up. As cheaper tickets are sold, the higher-priced tickets remain, meaning the longer you wait, the more expensive it usually gets.
Then, when you add in factors like seasonality, the prices can really start to creep up.
The good news is, flight prices do go down. However, it’s in pretty specific instances that this happens. These include:
While booking a few months in advance is generally recommended, you may see some lower prices if you look more than a year out.
In some cases, flight prices can come down as inventory gets released from the different airlines, although you would need to jump on this incredibly far in advance from when you intend to travel.
This might be obvious but it’s worth the reminder to keep an eye out for sales. Most airlines offer short-term sales, especially in off-peak seasons (like winter), making it a good time to snap up your own deal. Sign up to receive marketing comms from your preferred airlines to ensure you’re staying on top of sales.
Although, these deals tend to be for fixed travel dates and aren’t flex fares, so there is often less flexibility when buying airfares on sale. Be sure to always read the conditions of the ticket before you buy.
This also plays into seasonality, with prices on flights in slower travel periods and shoulder seasons going down in some cases. Also, if a particular flight isn’t selling well, this may lead to reduced prices.
If you’re not locked into a specific travel date, it’s worth exploring travelling in these lower-demand periods to save a few bucks.
Due to pricing algorithms, it’s difficult to nail down exactly when flight prices will drop and it’s best to secure your ticket; however, it’s generally recommended that you start looking a few months in advance, particularly for longer international flights.
The day you choose to fly can also impact the price, so if you have the flexibility to travel on a Tuesday or Wednesday, instead of a Saturday, it’s worth exploring how this small change might influence the cost.
Unfortunately, the myth that Tuesdays are the cheapest day to book a flight is just that, a myth. The sweet spot is booking a few months in advance and being strategic with the day of the week you choose to fly.
Unfortunately not. Flight prices generally tend to increase closer to the departure date, which is why travellers are advised to book their flights a few months out.
This price increase is influenced by a few factors. The biggest one is demand and availability. As the number of seats dwindle, the demand for the remaining seats increases and drives ticket prices up.
With a lack of availability, the leftover seats become more valuable and airlines capitalise on this by increasing prices.
Plus, in some cases, those travelling last minute may be doing so for unexpected or emergency reasons and are often more willing to pay the higher prices to get where they need to go.
Last-minute flight deals still happen but they can be incredibly hard to land and are a lot rarer than they used to be. Typically, airlines used to reduce airfares as the departure date approached, but this is no longer the case with dynamic pricing algorithms.
Securing cheap flights requires a lot of flexibility. When you find a cheap deal, you generally need to pounce on it straight away as they tend to disappear quickly. And, you largely need to take what you get with travel dates and even departure and arrival airports.
This method doesn’t allow for a lot of planning, which means you have to be ready to depart quickly, or risk not having flights locked in in the hopes of finding a cheap deal (and this is not for the faint of heart!).
The best place to find cheap, last-minute flight deals are typically budget airlines, so keep an eye on these and be ready to jet off sooner rather than later.
It’s important to note that flex or refundable fares are generally more expensive than fixed, non-refundable fares. If you’ve scored a last-minute ticket, or snapped up a sale, you probably won’t be able to get a refund or change the ticket should you not be able to jet off.
Busy, on-peak travel times tend to be the most expensive. Major holidays, like Thanksgiving and Christmas, and busy seasons like summer and school holidays, cause ticket prices to spike due to increased demand.
Ticket prices to certain destinations also fluctuate depending on the time of year. For example, tickets to Europe in the summer tend to be pricier than in the winter. On the other hand, warm destinations like Hawaii, are more expensive in the winter, as everyone tries to escape the cold for some heat and sunshine.
While travelling in off-peak or shoulder seasons are most affordable, you can’t always choose to reserve travel for these periods. And if you’re holding off on purchasing tickets, in the hopes you’ll land a dream deal, you might like to consider PayLater Travel.
The beauty of PayLater Travel means you can book your seat today and pay it off over time — with no stress and no interest. Plus, the earlier you book, the smaller your repayments.
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 when to buy your ticket, you can use this time to plan your upcoming holiday.
Book Now, Pay Later allows you to hack how you travel — fly comfortably, without the upfront payment.
