Are plane tickets likely to go up the longer you wait?

Are plane tickets likely to go up the longer you wait?

Short answer “YES”. Waiting until the last minute is unlikely to give you cheap plane tickets. The exception to this rule is perhaps last-minute package holidays. In some markets, you will be able to get a discounted holiday if you are not too picky on the destination and hotel you stay at.

How are plane tickets regulated in price?

In aviation, prices are regulated by supply and demand and some think prices of plane tickets are going up and down. This is rarely the case. Most airlines will have some kind of limit as to how far in the future you can book tickets. When tickets are released it is usually a good point to secure a reasonably priced ticket. The gamble you can take part in is waiting for any sales to be offered by the Airline. This can sometimes give you a plane ticket even cheaper than when the tickets were released.  

Travel restrictions, delays, cancellations etc.

If there are travel restrictions impacting your plane ticket, airlines usually allow a range of options. Usually, restrictions mean a changed departure time. If you accept then this new departure time will be your new contract with the airline. If you don’t accept the change of time, you can usually get a transfer to another flight, a voucher or maybe even your money back. To have these options, you don’t need to have insurance, as it is the Airline that offers these options.

Companies handling delay claims on your behalf

If your flight is delayed, there are a range of providers out there, that will be happy to handle your compensation claim against the airline. They usually take a cut of the compensation around 20- 30% and if you don’t get any compensation usually there is nothing for you to pay. We can understand if this is very convenient, but many airlines make it quite easy to claim compensation. So do consider if it is worth having a company act on your behalf. If the delay is down to factors outside the airline’s control, you are typically not going to be successful with a claim.

When is the best time to book – summary?

Prices on flight tickets (and holidays) are likely to go up the longer you wait. Sometimes buying a flexible ticket for your journey can be worthwhile if you are going on “flights only”. That way you at least know you have a ticket, and you can always cancel it and get your money back up to very close to departure time. Please make sure you know exactly what you are allowed to do with flexible tickets so you don’t get any surprises.

Also if you are not making a package holiday booking, but you book flights, hotels, car rental etc separately just be aware that if for example you flight gets cancelled, you can normally not automatically get money back for your hotel, car rental etc. If the airline goes bust, the fact that the airline is ATOL protected, usually means that you will be able to get your money back even though the airline hasn’t got money to pay you back. 

In summary, the earlier you can book, the cheaper you are likely to get your tickets. If you book everything separately yourself, you usually run a higher risk if something goes wrong.  

Travel insurance to protect your travel plans

Taking travel insurance can be one way of securing you and your family against sickness etc. Not all travel insurance policies will allow full recovery of your ticket prices in case of sickness, so do look at the small print. Some travel insurance policies that come with credit cards also have a requirement that you have paid for the tickets using the card. So make sure you know the ins and outs of your policy to avoid disappointment.

3rd party providers for booking late flights

Using 3rd party providers to book plane tickets or holidays, can be tempting but it is not all without risk. In particular, if there are irregularities with your ticket or holiday, some 3rd party companies require you to deal directly with them. The airline will not be helping you in the same way as if you booked directly with them. 3rd party providers can however sometimes enable you to book cheaper last-minute tickets than if you booked directly with the airline. This is because some 3rd party providers make strategic purchases of tickets on selected routes, and then make a profit selling them last minute. Compared to buying your tickets early and directly with the airline, 3rd party sales of plane tickets are unlikely to offer any savings.

Happy landings

Ask A Pilot