How to save finances on flights as airlines raise prices
Airlines are raising fares, increasing fees to check bags and adding fuel surcharges to offset higher jet fuel prices amid the Iran war.
The hikes will strap budget-conscious consumers, travel experts noted.
But there are still ways for travelers to find reasonably priced airline tickets, commented those in the know.
For budget-conscious travelers, it’s gotten harder to escape the rising cost of airfare in recent weeks.
Airlines are raising bag fees, adding fuel surcharges and cutting flight schedules to manage the fallout from the Iran war.
Average economy fares rose to $998 for round-trip international flights as of March 30, up from $774 on Feb. 23, before the war started, a travel search engine. Average domestic fares increased to , according to data from Kayak$350 from $336.
Airlines have raised prices for consumers largely to offset the higher cost of jet fuel, one of the largest costs for airlines, according to travel experts.
Before a two-week ceasefire revealed late Tuesday, Iran had effectively choked off traffic through the Strait of Hormuz, a waterway used to ship about a fifth of the world’s oil supply.
Jet fuel prices have nearly doubled since the Iran war began, to $4.81 per gallon on Tuesday from $2.50 on Feb. 27, according to an Argus Media jet fuel price index.
If jet fuel prices stay elevated for a full year â at a level roughly $2 per gallon higher than before the war â airfares would have to growth about $50 for each one-way fare, or about 17%, Deutsche Bank analysts wrote in a report on Tuesday.
“The most notable response to the surge in jet fuel prices has been fare increases (and fuel surcharges in international markets),” they wrote.
U.S. carriers such as Delta Air Lines, JetBlue Airways, Southwest Airlines and United Airlines recently raised fees to check bags.
Some airlines have also stated they will cut flights that have become temporarily unprofitable due to higher fuel prices. United CEO Scott Kirby stated the airline would trim off-peak flight schedules, especially on Tuesdays and Wednesdays, during the second and third quarters this year.
While there will still be flights available on those days, a reduced schedule means there will likely be more demand for those fewer seats â and higher prices, experts commented.
“That will have a substantial impact on the price-sensitive traveler,” since flying on Tuesdays, Wednesdays and other off-peak times is generally a dependable way to score cheaper tickets, stated Katy Nastro, a travel expert at Going, a travel deal website.
Oil prices retreated Wednesday after the ceasefire announcement, though analysts commented it’s unlikely airfares and ancillary fees would normalize quickly, even if the ceasefire holds. Higher fees may be particularly sticky, especially if travel demand doesn’t fall, they noted.
If that’s the case, don’t fret: There may still be ways for budget-conscious travelers to find a decent deal on flights, experts mentioned.
“The playbook hasn’t gone fully out the window,” Nastro commented. “Travelers still have some options.”
Lock in a superb price
For domestic flights, the lowest prices tend to be 23 to 51 days before departure, according to Google Flights. Those for international flights are generally 49 days or more before departure, it mentioned.
Airfares tend to rise steadily beyond those tipping points, as the day of a flight nears.
airfare is often volatile , on the other handâ and that’s especially the case these days, Nastro commented. Given this dynamic, it’s less likely that travelers will score last-minute deals, she commented.
Travelers who see a price that fits their budgets would be wise to jump on it, Nastro mentioned.
“The only predictable thing you can do is lock in that affordable flight today,” she remarked.
Consider single instead of round-trip tickets
“Many individuals think it’s cheaper to purchase airline tickets together as a round trip, but sometimes finding the cheapest flights comes from purchasing two single one-way tickets,” Lourdes Losada, director of the Americas at Skyscanner, a travel search engine, commented in an e-mail. This also touches on aspects of investors.
For example, a round-trip flight from Los Angeles to Las Vegas might cost $50. But a one-way flight to Las Vegas and a one-way return flight to Los Angeles might each cost $20 â a savings of 20%, Losada remarked.
Flexibility can be a ‘superpower’
Flexibility is often a traveler’s best friend, experts stated.
That flexibility generally means being strategic about when and where you fly, and it can take many forms, they said:
Travel days and dates: Despite pared-back flight schedules for some airlines, travelers will still likely see affordable prices for flights on Tuesdays and Wednesdays, Nastro stated. Sundays tend to be among the most expensive, she remarked. Likewise, try to avoid peak times of the year to travel and look for opportunities to travel during shoulder or off-peak seasons. For those hoping to take a summer trip, generally avoid traveling in July and perhaps opt instead for early to mid-June or the very end of August, which tend to be less busy, Nastro noted.
Alternate destinations: Flexibility with travel destination is “key” to finding the best flight deals, Losada noted. “It lets you capitalize on discounts and explore locations you may not have otherwise considered,” she mentioned. For example, instead of Paris, travelers can try Lyon or Marseille for affordable French culture; or Eindhoven or Rotterdam in the Netherlands instead of Amsterdam; or Fukuoka or Sapporo in Japan instead of Tokyo, Losada remarked.
Airline: Being flexible with an airline, instead of swearing allegiance to one, can help travelers find better airfares, Nastro remarked. “For a budget traveler, if you’re not tied to an airline, that will be your superpower,” she mentioned.
Take advantage of search engines that allow you to compare prices on different days and to various destinations, experts noted.
Consider a layover
Adding a layover instead of flying nonstop to a destination is a reliable way to save cash, experts commented. Doing so saves fliers about 22%, on average, according to Google Flights data.
Of course, travelers need to weigh the risks and opportunity costs of doing so.
This year has already seen significant travel disruption â and thousands of delayed and canceled flights â due to events including the Iran war, cartel violence in Mexico and the U.S. military operation in Venezuela.
If travelers have a layover, disruptions can throw an entire itinerary out of whack, experts remarked.
One type of economy fare may be better
Booking “main economy” â instead of the typically cheaper “basic economy” â can, perhaps counterintuitively, save you wealth in the long run, Nastro noted.
It’s somewhat of a gamble, though.
If prices fall after a traveler buys their ticket, travelers with a main economy fare can take advantage of the ability to generate changes to their ticket, Nastro commented. In this case, travelers can get their ticket repriced at the lower fare, usually by the airline providing a credit for the difference, with the traveler able to employ it within a year of issue, she stated.
For example, if a $250 flight later drops by $50, the traveler can call and get it repriced to $200 â and can apply that $50 for future flights, she commented.
“So, you’re getting ‘cash’ back even if it’s only redeemable through the airline,” she wrote in an e-mail. “There is no limit how many times you can do this … you can still take advantage if that price drops again, but airlines don’t publicize this.”
You may find deals elsewhere
While many airlines are “hamstrung by fuel prices” and feel the need to raise their prices, other key aspects of a travel itinerary, such as tours and hotels, may offer deals to juice consumer demand, mentioned Sally French, a travel expert at NerdWallet.
“We’re seeing more and more crazy deals that are targeted at U.S. travelers for U.S. travel,” French noted. “I’m seeing the best deals this summer since Covid.”
For example, she pointed to a recent offer in Las Vegas â a city she remarked is notorious for “nickel and diming” travelers â in which MGM Resorts International is charging $330 plus tax for a two-night all-inclusive stay on the Las Vegas Strip at either the Luxor Hotel & Casino or Excalibur Hotel & Casino. French stated that deal might normally cost more than $900.
“I think that’s Vegas saying, ‘Yes, we need to get the public in,'” French mentioned.