Airfare Costs to Rise: How You Can Save
Aviation industry executives gathered in Dubai for the annual International Air Transport Association (IATA) meeting this week, where they revealed that despite record-high profit projections, airfare will continue to climb in the coming months.
Rising Airfare Amidst Record Profits
The Associated Press first reported the trade group’s pricing prediction, attributing the rise in airfare to a combination of global inflation and the long-term recovery from the massive groundings during the pandemic. Additional expenses and overhead, including high fuel prices, are expected to push passenger ticket prices higher.
Insights from The Points Guy
Brian Kelly, founder of The Points Guy, appeared on “Good Morning America” to discuss the key takeaways for American travelers and provide tips on how to save on airfare despite the rising costs.
“There’s good news and bad news today,” Kelly said. “The good news is in the U.S., our airfare has come down 9% and we’re looking at pre-pandemic levels. The bad news is the airlines are still making record profits by finding ways to charge more for what we already pay for. Most major airlines are now charging more for checked bags.”
Expert Tips to Save on Airfare
Get an Airline Co-Branded Credit Card
Kelly emphasized the importance of getting an airline co-branded credit card, especially for frequent flyers who check bags even once a year. “If you fly the same airline and check bags once a year, getting that airline co-branded credit card could save you hundreds, even thousands of dollars,” he said. “Do not pay the hundreds in bag fees when a credit card that’s $95 can save you money for you and all your companions.”
Be Flexible with Travel Plans
Flexibility is crucial when it comes to finding deals on airfare. Kelly recommended the Goldilocks method, which involves finding the best booking window—not too far in advance and not too last minute.
“There’s a sweet spot. Everyone who wants to find a cheap fare needs to learn to use Google Flights,” Kelly advised. Google Flights helps users compare and shop for flights easily, set alerts, and reverse engineer flight booking plans to find the best deals.
Utilize Award Ticket Sites
Another recommendation from Kelly is to use sites like point.me, which he described as “kind of like Google Flights but for award tickets.” These sites allow travelers to use miles instead of cash for their bookings.
“If you’ve got Amex points or Chase points, point.me will tell you how to transfer the points. The foreign frequent flyer programs are where the best deals are,” Kelly said, emphasizing the value in using award points for significant savings.
Additional Tips for Finding the Best Fares
Fly in the Morning
Flying in the morning often results in lower fares and fewer delays. Early flights are less likely to be affected by the ripple effect of delays that accumulate throughout the day.
Book in Advance
While flexibility is key, booking in advance can also yield significant savings, especially for international travel. Kelly noted that for international airfare, travelers should look at booking two to three months in advance to secure the best rates.
Fly Midweek
Midweek flights tend to be cheaper than those on weekends. Travelers who can be flexible with their travel days should consider flying on Tuesdays or Wednesdays to take advantage of lower fares.
Timing for Domestic vs. International Travel
Kelly highlighted the importance of timing when booking flights, noting that it varies between domestic and international travel. For international flights, he recommended booking at least two to three months in advance. “When you start booking last-minute international, that’s when the prices skyrocket,” he warned.
Conclusion
As airfare costs are set to rise, travelers need to be strategic in their approach to booking flights. By using co-branded credit cards, remaining flexible with travel plans, utilizing award ticket sites, and adhering to specific timing strategies for booking, travelers can still find ways to save despite the challenging market conditions. With these tips from industry experts, staying informed and proactive can make a significant difference in managing travel expenses.
