According to a story in the LA Times, a recent study (comparing millions of transactions over the last four years) by the Airlines Reporting Corp. – a company that handles ticketing transactions between the nation’s airlines and travel agents – found that passengers pay the lowest price, nearly 6% below the overall average fare, if they buy six weeks before their flight. The study also showed that ticket prices begin to soar dramatically about a week before the day of travel, and can rise nearly 40% above the average price if passengers buy the ticket on the day of the flight. But that later trend should be fairly obvious.
The LA Time story went on to say that Airlines Reporting Corp stated, “We’re not advising people to purchase tickets only at this time during the cycle as there is no guarantee they will receive the lowest price of the year,” said Chuck Thackston, managing director of data and analytics for the firm. “It is just that the data indicates we have seen this pattern over the last four years.”
But you know how this goes.. now that this has been printed and floated in the media, the airline industries will likely alter their algorithms if they catch wind of the fact the consumer was informed of a pattern.Like what you just read? Subscribe!