Airfare Trends in 2015

Airfare prices are predicted to decrease this year as the demand for travel continues to rise. The price gap between first class and economy is also significantly narrowing.

Airfare Trends in 2015

Insights into air travel in 2015 are depicted through charts compiled and researched by online travel company Expedia and the Airline Reporting Corporation (ARC). Here are the highlights and basic predictions for the airline and airfare market in 2015.

Airfare Prices – Up or Down?

According to the results of aggregation and research, airfare prices will decrease in 2015. Meanwhile, a resilient economy will generate more travel demand. Decreasing oil prices will also contribute to price changes (lower). In the North American and European markets, prices may decrease slightly.

Predicted destinations with decreased prices in 2015 include Dallas (11.2%), Washington D.C. (6.7%), Rome (6%), and Tampa (5.9%).

Frequently Asked Questions

When to Stop Searching and Book Tickets

If you purchase tickets at least 3 weeks (21 days) before your trip. Expedia's research indicates that Tuesday is often the ideal day of the week to find cheaper fares.

However, Expedia also agrees with George Hobica's advice on the Airfarewatchdog.com website that ticket prices and availability can change by the minute and by the day. Therefore, it's best to check fares multiple times a day if you're planning a trip.

For the best prices, research also suggests that you should purchase domestic tickets at least 2 months in advance, and international tickets 6 months in advance.

Expedia's research indicates that on some routes, the gap between first or business class and economy class tickets is becoming closer. Opting for higher class tickets brings considerable value.

The research also acknowledges that business or first-class tickets on long-haul flights are often at least 3.5 times higher than economy class tickets. However, on short-haul flights in North America, Europe, and the Asia-Pacific region, the gap between the two classes is narrowing.

Expedia's analysis shows that in some domestic markets, the price difference between low and average seat classes is lower than the regional average. Last year, in Orlando, the average ticket price difference (premium - economy) was 15% if purchased 21 days in advance and 30% if purchased 7-21 days in advance. In Atlanta, these numbers were 25% if purchased 21 days in advance.

Expedia also provides explanations for the narrowing gap between ticket classes. This trend is attributed to economy class ticket prices increasing faster than business class and first-class tickets, which are already quite expensive. Additionally, airlines pricing premium class tickets closer to economy class tickets is part of their marketing strategy.

As a result, many average travelers can experience premium services. In a world inundated with rich information shared on social media, this is an ideal way to promote airlines' image as well as the convenience and modernity of premium cabins at 10,000 meters altitude.

Some Advice for Travelers

In addition to the referenced information, Expedia advises travelers to make smart calculations to save money, time, and avoid hassles when booking tickets in the future.

- Book early to save more. Based on the analysis of industry airfare data, booking early for domestic or international flights can lead to significant savings.

- Remember to check fares on Tuesdays. When purchasing a flight ticket more than 21 days in advance, Tuesday is always the day passengers can find better-priced fares.

- Consider premium cabin, first-class tickets. In recent years, the gap between premium and economy class tickets has become significantly closer, and you have every right to experience this seating class at an affordable price.

- Bundle your bookings. Similar to TV, internet, or phone services, buying in bundles often results in cheaper prices. When traveling, try to find bundled tour packages, promotions including flights, hotels, or other services (such as car rental).

- Lastly, fully enjoy your travel journey in the new year of 2015.

According to VnExpress

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Reference: Travel Guide Mytour