2015 could be a year of lower prices, premium value, and a different strategy regarding when to book according to a new study of air travel trends by Expedia, Inc. and the Airlines Reporting Corporation (ARC).
The study covers the best time to purchase plane tickets, understanding the value of different seating classes, and what consumers might expect to pay for tickets next year.
Expedia says it created the study, Preparing for Take-Off: Air Travel Trends 2015, based on ticket data from ARC, Expedia’s own information and other sources.
Overall, the analysis says it points to a trend of “lower prices, premium value, and a different strategy regarding when to book.”
The key study results:
1) While it’s impossible to guarantee when travelers can find the lowest fares, buying at least two months in advance for domestic travel and six months in advance for international travel puts you in the best position to get a good deal.
2) Tuesday appears to remain the best day of the week to find low fares on air travel booked at least three weeks in advance.
3) The gap in price between premium- and economy-cabin tickets is shrinking, and, generally speaking, premium-cabin air tickets are not as expensive as many travelers assume. On some routes, prices on these tickets actually make them a good value, considering the perks.
4) Overall, increased demand in 2015 is being met with increased capacity in such a way that they cancel each other out. Couple that with a drop in fuel prices and consumers should see slightly lower air-ticket prices to most North American and European destinations.
“The combination of increased demand met by with increased capacity, coupled with lower fuel prices means one thing: it’s good to be a traveler in 2015,” said Greg Schulze, senior vice president, global tour and transport, Expedia, Inc.
Preparing for Take-Off: Air Travel Trends 2015 is available free at: http://bit.ly/1w6cjvz