Good news: there are incredible deals to be found for travellers who can be flexible or are open to exploring lesser-known destinations. Comparing and contrasting dates, providers, departure airports and destinations will always allow you to find the best deal. Our price alerts, ‘everywhere’ search and ‘month view’ are all easy ways to do that.
How are flight prices calculated?
In short, distance and demand are pivotal factors that determine flight ticket prices.
Travel is just like any other valuable commodity, and it’s priced so that when demand is low, prices are low, to stimulate sales. Likewise, when demand is high, prices are high to capitalise on the interest.
To do this, airlines set up a pricing schedule for their flights, putting the seats into price ‘buckets,’ and as one ‘bucket’ fills up, they open the next, more expensive one up for purchase.
‘Airline pricing models are complex, with tickets priced low enough so passengers can afford them, while keeping airlines profitable. Airlines use complicated algorithms to set their pricing, which weigh up determining factors including the nature of the airline (e.g., is it a low-cost carrier or premium airline), the itinerary, and the cabin class. These all have a bearing on how much the traveller pays for the ticket. However, there is one factor which outweighs all of these and is the ultimate determinator for the price paid: demand.’
Hugh Aitken, VP Flights at Skyscanner
Does seasonality significantly affect flight prices?
Airlines rely on a degree of seasonality in travel and price their fares to balance the affordability of their flights, as well as their own profitability. Ticket prices fluctuate, and booking at certain times – for example, at the last minute – can be more expensive as there is less supply to meet demand.
Generally, prices are higher during school holidays (Easter, summer holidays and half terms) and especially in the Christmas and New Year period – although winter can be the cheapest time to travel, outside of the holidays. And try to book at least four weeks in advance of travel for the best prices.
What is the cheapest day to book a flight?
According to our data and flight price history, Tuesday is the day to book. Most airlines launch their discounts on Monday nights, so you can pick up the best prices on Tuesday mornings. In general, by booking on a Tuesday you could save somewhere between 15 and 25% on your flight ticket.
Why do flight prices go up and down?
When you’re booking your next flight, it’s important to know that prices fluctuate. These price changes reflect how airlines react to sales and external factors, with the aim of filling up their planes. Contrary to popular belief, and very much similar to stock prices, flight prices are affected by sales numbers rather than search volumes. So no matter how many times you hit the refresh button on a particular route, know that you’re not driving up the price by doing so.
Four top travel hacks on how to bag a bargain from Naomi Hahn, Skyscanner’s VP of Strategy:
- Be price smart: “Setting up price alerts will ensure you’re the first to know as prices drop with any additional discounts or added supply. You can mark a flight you’re interested in and Skyscanner will email you whenever the price goes up or down.”
- Always book up to 4 weeks in advance if possible: “Flight prices are all based on supply and demand. Since some dates are more popular than others, prices will vary, i.e. on average, you could save up to 51 per cent by booking four weeks ahead of departure. The ‘whole month’ search tool allows you to see cheap flights immediately and pick the right deal for you. Consider travelling a day before or a day after your original departure dates, as flying on less popular days of the week is always cheaper.”
- Consider all options: “Swapping your usual break in Cancun for Portugal could be an unexpected delight. So let the algorithm decide with a search to ‘Everywhere’, which will present a plethora of options based on your travel dates, all ranked by price.”
- Mix and match to save money: “Not just a summer fashion trend, mix-and-matching the airlines and airports you choose to fly with and from can seriously cut costs. Considering beyond airline loyalty points could save more than the value of points. Fares do not have to be booked as returns. Look at flying out with one airline and back with another, or out of one airport and back into another, to save money.”
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