Any seasoned traveler knows that flight prices are prone to rises and falls at a moment’s notice. Therefore, it’s good to know how you can score the cheapest ticket when planning for your trip in advance.
Still, not only leisure and business travelers want to travel without emptying their bank accounts.
The problem of expensive tickets is particularly relevant for students who study abroad or want to observe an old student tradition and travel overseas before going to college.
Specialists from edusson.com, one of the biggest online writing companies that help thousands of students and content makers create research papers and other brilliant pieces of writing, fly a lot and know a great deal about subtleties of airline pricing policy.
If you’re a frugal student who doesn’t want to go broke as soon as they get a coveted ticket to, say, Paris, or Rome, you need to be aware of some tricks and contrivances students often resort to score a cheap ticket.
From our article, you’ll learn what to do to save a bundle on tickets and other airline fees.
Yield Management as an Excellent Opportunity to Save on Flights
Though flight prices are as fickle as autumn weather, there is one thing that cannot but fascinate travelers. Flight prices change constantly, which means that the price that might make you bankrupt yesterday can turn into the best offer tomorrow.
Flight price fluctuation can be influenced by a number of various factors. As a rule, airlines don’t set a fixed price for their services. We suggest that you take advantage of the yield management method, which, much to our disappointment, very few passengers currently utilize.
First of all, it’s crucial that you familiarize yourself with the yield management concept to figure out the reason behind the unexpected flight price drop and why a ticket booked in October can be much cheaper than its counterpart bought in July.
Yield management is based on several principles that influence most flight price policies.
The first one is the pricing strategy. Just like any other business, air carriers strive to boost their profits and often succeed in this thanks to their well thought out pricing strategies.
Airlines effectively change their flight fees based on customer needs. For instance, some customers might book tickets three months before their trip, while others, usually those traveling on business, might need a ticket a week before.
As a result, the former may save a bundle on their tickets, while the latter may pay full price for them.
Availability control. Long before a flight, an air carrier reserves a certain amount of seats for travelers that have booked their tickets in advance and business fliers that may decide to take this flight on the spur of the moment. Moreover, airlines always try to reserve some seats for standby passengers.
The last tenet of yield management is the control of inventory. It implies the availability of an aircraft carrying out a flight, the crew operating an aircraft, and fuel, of course.
At this point, an air carrier makes sure that all of these factors are maintained to provide services to passengers.
Now it’s about time we discuss the period when flight prices undergo dramatic changes. Experiences travelers often note that there is such a thing as an airfare weekly cycle during which one may score a cheap ticket to any destination.
We suggest that you start hunting for cheap offers on Monday nights. It’s the time when airlines tend to offer discounts on their flights.
If you’re lucky enough, you may get up to 30% off the initial price. Still, you fail to score a cheap ticket on Monday night, you may try searching for a suitable variant on Tuesday morning.
On Wednesday, prices tend to go upward and usually reach their peak on Thursday, which is the day of the highest airfares, as edusson employees call it.
It’s rumored that on this day, airlines add a markup percent, which may reach 10, to flight tickets.
Saturdays and Sundays are considered the most volatile time. While it’s true that air carriers do not conduct inventories, travelers often start actively purchase tickets exactly during weekends, which automatically results in the increase in ticket prices.
Note that all extra seats will be sold off on Monday for a reduced rate. Hope with our help you’ll be able to save more money and visit your family more often.