Americans Enjoy Lower Airfares for Holiday Travel Season
Americans are catching a break on the cost of flying for the busy holiday travel season.
Recent data from the Consumer Price Index reveals that airfares were down more than 13% last month compared to a year ago. Moreover, flights are currently more affordable compared to pre-pandemic levels, with airfares being 5% lower than they were in October 2019.
According to travel booking site Hopper, the average cost of domestic, roundtrip airfares around Thanksgiving is $266, which is about 10% lower than the previous year. Hopper spokesperson Lindsay Schwimer stated that "prices are significantly lower" this year.
While it may be late to book Thanksgiving travel, experts suggest that the best time to find deals on airfare is typically six to eight weeks ahead of the travel date. Schwimer added that although it's last minute for Thanksgiving, travelers who are flexible with their destination and dates can still find great last-minute deals.
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Opportunities to Save on Christmas Travel
Despite the ongoing pandemic, there are still opportunities to save on Christmas travel compared to last year. According to experts, prices for domestic, roundtrip airfares around Christmas have decreased by 15% from last year and are 11% lower than the same period in 2019.
Data from flight aggregator and search site Kayak also shows that prices for Christmastime flights are down 23% compared to a year ago. While flights may not be necessarily cheap, they have come down significantly, according to Kayla Deloache, Kayak's consumer travel trends expert.
Why are fares cheaper?
Despite strong demand, fares have decreased due to several factors. Jet fuel prices have come down, and airlines have increased their capacity, keeping ticket costs in check. "We've seen a shift back to normalcy in terms of prices, and a lot of the domestic airline capacity has come back to what we saw pre-pandemic," said an industry expert.
According to travel rewards expert, there are several reasons why airfares are lower these days. One of the main reasons is the practice of unbundling fares by airlines. Instead of offering a fixed price for all services, airlines now offer different tiered tickets. Passengers are given a low base fare and can choose to pay extra for additional features such as checking a bag, selecting a seat assignment, using wifi, or having meals and drinks during the flight.
The availability of à la carte options is seen as a positive aspect by many. If passengers don't require certain services like checking bags or getting a drink, they can opt for a lower airfare without these additional costs.
Booking and Flying Tips
Travel experts advise that if you come across a good deal, it's best to book it right away. The U.S. Department of Transportation has a policy that allows customers to cancel their reservations within 24 hours of booking without any penalty.
"If you find a flight that you plan to take, go ahead and book it. You can always cancel it later without any penalty," says the travel rewards expert.
During Thanksgiving, it is common for people to travel on the Wednesday before the holiday and return home on the following Sunday. These two days are considered to be the busiest and most expensive for domestic travel.
"Finding reasonable airfares on those days can be quite challenging," says a computer scientist who closely monitors airline data.
Travel Tips for Finding Deals on Thanksgiving Flights
For a better shot at finding a deal, look for flights on Thanksgiving Day. "If you travel in the morning, the airport is not as busy, you can arrive and have dinner later in the afternoon or evening," a travel expert said.
Also consider returning home late in the day on Friday, before the weekend rush. "You can catch some excellent fares because the airlines are flying anyway, and if they don't fill the seats they'll find a way to attract people," the expert added.
Extending the holiday can also yield savings if travelers return home on the Monday or Tuesday after Thanksgiving.
Travel Deal Tuesday
In addition to traveling on Tuesday, search for deals on future flights for even more savings. The Tuesday following Thanksgiving offers the greatest number of flight deals, according to data. This year, for example, the flight site is expecting discounts of up to 80% on trips to destinations including Hawaii, Orlando, Florida, Phoenix and Las Vegas.
