FlightHub and JustFly Reveal Why Your Flight May Cost More Than Your Neighbour

MONTREAL, Oct. 29, 2019 /PRNewswire/ - Many people budget for months, and sometimes years, to save up for a great holiday trip. Often, flights are the most expensive part of a vacation. Knowing which elements that drive up airfare costs is important, especially for travelers who prioritize savings.

According to a recent CNBC article; "The decisions are being made by an algorithm that adjusts fares by using information including past bookings, remaining capacity, average demand for certain routes and the probability of selling more seats later."

Is there a way to take advantage of the algorithm? Of course! FlightHub and JustFly have put together an extensive list of ways to find cheap flights. Here are the factors travelers should consider before booking.

Fare and Class Types

Domestic and international flights have a full spectrum of class prices and fare categories. To be specific, there are at least 15 types of fares; clarity on the options and fine print may better prepare travelers and help them make the best of their journeys.

1. First-class: High cost, several amenities, typically the best overall service.
   
   
2. Business class: A happy medium between economy and first-class. Higher cost and more amenities than economy, but lower cost and less amenities than first-class.
   
   
3. Economy class: Lowest cost, fewest amenities.
   
   
4. Unrestricted or walk-up fare: Costly, but little to no restrictions on reimbursements or itinerary changes.
   
   
5. Published fare: Bookable by anyone at any time.
   
   
6. Restricted or discount fare: Usually needs to be bought by a given date. Fees imposed for itinerary changes and refunds. Restricted ticket use.
   
   
7. Apex fare: International fares at a discount.
   
   
8. Capacity-controlled fare: When a set number of seats at a given price are reserved by low-cost carriers.  These fares typically go fast.
   
   
9. Internet-only fare: Bought exclusively through specific a website, typically from one airline.
   
   
10. Joint fare: 2 or more airlines collaborating to build a customer's itinerary.
    
    
11. Through fares: Customers pay one price from origin to destination, but also pass through a third-party city to complete their trip.
    
    
12. Bereavement: Reserved for funerals or impending death. Often half off unrestricted fares. Must be purchased from airlines in person or by phone.
    
    
13. Open-jaw: Not unlike a roundtrip ticket, except departures and destinations may change each way. For example: Bangkok to NYC, LAX to Bangkok.
    
    
14. Multi-city: A single ticket through several cities.
    
    
15. Youth or child: Lower prices due to age, from 0 to 11 years old.
    
    
16. Senior: Lower prices due to age, from 55 to 65 years old.
    
    
17. Unpublished: Not available to the general public. Travel agencies get access to these through legacy channels.
    
    
18. Opaque: Airline(s) and flight number is revealed after the ticket is bought.

What Drives the Cost of Airfare Up (or Down)

1. Booking Date: Generally speaking, last-minute fares cost more. Book ahead to maximize savings. If booking with JustFly, use their Price Trend tool. According to travel experts, the best time to book is between 30 to 90 days prior to departure. Within 14 days before departure, airfare prices begin to rise more drastically.
   
   
2. Airport Size: Big airports host more airlines, which in turn causes competition and ultimately drives prices down. Smaller airports usually operate in the opposite way. They don't accommodate as many airlines, which gives airlines more room to raise ticket prices. 
   
   
3. Distance: Typically speaking, the farther the destination, the more expensive the flight.
   
   
4. Seasonality: Pay lower prices by flying outside of peak seasons. Avoid travelling during summer, holidays, or during major events like the World Cup.
   
   
5. Seat Availability: Airlines want to fill as many seats per flight as possible. The number of seats left on each flight directly impacts airfare costs.
   
   
6. Oil Prices: Filling a commercial carrier with fuel is costly. Those costs are then added to ticket prices as additional charges.

Other Ticket Price Factors

 Finally, remember to consider the following factors when booking a flight as well.

1. Trip Duration: Typically, this is only applicable to international flights. Airlines sometimes offer top deals to consumers who travel more than a set amount of days.
   
   
2. Departure Days: Book tickets to depart on less popular travel days. The days are location dependent and may change over time. However, serious travelers (and savers) sometimes use this method when on a tight budget.
   
   
3. Departure Times: The time of your departure affects cost. Travel outside of busy travel times for lower airfare. For example, red-eye (overnight) flights or early in the morning.
   
   
4. Indirect Flights: In terms of convenience, nothing beats a direct flight. On the other hand, connecting flights usually costs less. Depending on travel needs, trading time for savings may be a good idea.
   
   
5. Airfare Sales: Airline ticket sales are great, but they often expire quickly. Take advantage of sales whenever they're available. They're usually gone in a hurry.

SOURCE FlightHub

Related Links

www.flighthub.com