Why Flight Prices Fluctuate & How to Book at the Right Time

Have you ever thought about the reason behind flight costs that make you feel like you are on a roller coaster ride while they wave from low to high? The truth is that airlines make changes to various factors, which then alters the prices; here's how it works:

1. Supply and Demand

The most critical point is going to be demand. When many people book a ticket for one day, the airline knows that it can push higher prices. Otherwise, if a flight isn't that popular, the price may decrease to make it more attractive for the passengers.

2. Time Until Departure

Airline prices usually start with the lowest value on the release of the tickets, but the ticket rates increase as time goes by. Given that only a few places remain on other flights and potential customers have limited options. Therefore, higher prices are set for the available seats.

3. Day of the Week

Another factor that determines the price of the flight ticket is the day of the week. A typical example is weekday flight tickets, mainly Tuesdays and Wednesdays, which are cheaper than weekend tickets. This is because fewer people travel for business or leisure in the middle of the week, so the airlines have to reduce ticket prices to fill the seats.

4. Competition Between Airlines

When several airlines operate the same route, they compete with each other by lowering their prices. This, in turn, can create flash sales and decrease prices out of the blue, so in order to seize the opportunity, the price competition must be overseen.  

5. Seasonality

Sometimes, the year holds some months which are more suitable for travel than others. For instance, summer and holidays like Christmas or Thanksgiving tend to be more pricey and scarce, which means airlines capitalize on them with higher prices that customers are willing to spend because more people fly. The logic behind this is simple: the fewer passengers there are, the lower the airfares. If you can travel off-season, you will find it cheaper.

6. Fuel Prices

Fuel prices are a major part of an airline's overall cost and thus influence the ticket prices. If the cost of fuel increases, you are bound to see a rise in the price of tickets. On the other hand, if the fuel cost is reduced, then airlines might also lower their fare.

Understanding how flight fares change does not necessarily imply learning how to book them at favourable times to get the cheapest deals.

1. Book in Advance

Remember the principle: the sooner, the better. In the case of an international trip, the best practice would be to book from 2 to 3 months in advance. As for foreign flights, schedule your journey for 4 to 6 months before. All this will allow you to act proactively and search for the lowest rates before they are inflated right before the flight takes off.

2. Use Fare Alerts

Fare Alerts are provided on most flight comparison websites like Fightsmojo. You can set up an alert through these services that will notify you when there's a price drop for a specific route. This is a very convenient method to follow price changes and use them when the price is really low.

3. Be Flexible with Your Dates

If you are ready to move your travel dates, you should make use of the prices that are showing as the lowest. The flight prices for Tuesdays and Wednesdays are much cheaper than those set out on Fridays or Sundays. Get all the flights available on different days to help you see and compare the prices on each day using the flexible date search option on the flight booking sites.

4. Book When Prices Drop

Now and then, the prices suddenly drop after they have been exorbitantly high for a period. Should you come across a great offer, act right away! The Airlines may soon again increase the prices they are charging. The best thing to do is to make a reservation on the first occasion that you observe the price drop. It is better than waiting and then having to pay more a little later.

5. Consider Alternative Airports

When you fly into big cities such as New York, look for other neighbouring airports. It's a great way. Sometimes, your change of destination to a smaller airport can save you several hundred dollars, and the time you spend on extra travel may not be too long.

6. Look for Deals on Weekdays

Also, as specified before, travel on midweek days like Tuesday, Wednesday, and Thursday is better for the budget. If you are open to flight dates changing randomly, you can go for a mid-week flight at a reasonably low rate and, hence, save your money.

FlightsMojo can do many things, including ensuring that passengers are provided with the proper meals. We are experts in flight deal hunting and have skilled travel consultants who can provide the necessary instructions to help you plan your travel. We present the best value for your money when it comes to a business trip, family vacation, or leisure getaway. Our experts will guide you through the world of flight fares that keep changing, using their vast knowledge and experience to ensure a pleasant flight.