As the New Year begins, travelers around the U.S. are impatiently checking the clock while wondering when airfare will begin to drop. The unfortunate news is a drop in price isn’t likely and, in the current market, consumers can expect the ball to remain in the airlines’ court. Review 2015’s airfare forecast to save on travel this year.
The Rub: Factors Affecting Airfare in 2015
When you eliminate the competition, reinvest fuel cost savings, and regulate the supply in a high demand market, the result is stagnant pricing determined by the owners of the supply — the airlines. Despite the drop in fuel costs recently, the average traveler isn’t seeing a reduction in price. If not simply holding onto the unexpected savings, airlines are reinvesting the additional funds into perks for business clients as, historically, these are the highest paying and most frequent customers. To combat above average pricing, consumers need to be extra savvy to reap the most savings. Read the full report about fuel prices here.
How to Save Money on Airfare in 2015
The key to getting the best deals on airfare in the New Year involves a little compromise, but the additional cushion in your bank account is well worth it. Use the following tips to save money on airfare:
- Choose an off season for travel. While November and December see tons of air traffic, the months following are comparatively sparse. If possible, fly in a slow season to get the best rates.
- Fly midweek instead of peak days. Though not entirely transparent, the price points set by airlines do change based on day of the week and time of scheduled flight. Do your research by comparing fares scheduled for different days and times; you’ll most likely find that midweek flights scheduled for Tuesday or Wednesday are less expensive than weekend fares.
- Don’t insist on a set date. Unless you have a scheduled engagement that cannot be changed, try being flexible with your travel dates. Many airlines allow you to search available flights using a “flexible” option to locate the best fare. Experiment with different departure and arrival dates for the lowest price.
While the cost of airfare isn’t as low as travelers would like, there are still plenty of reasons to be excited about the progression of air travel. Equipped with more comfortable seating, Wi-Fi, and in-flight amenities, flying remains the quickest and most convenient way to travel long distances.