How to get the cheapest flights?
Buy now or wait?: How to score cheapest airline tickets
There's always an element of gambling involved when trying to figure out how to get the cheapest flights. As CNN reports in the video included in this post, you can book now to lock in a known price (if you know when and where you're going) or you can wait and see which way fares go as we move into the summer travel season. Indeed, travel experts themselves don't agree on the best strategy, as a related article in The New York Times points out.
Fare anxiety is high at the moment because prices keep rising -- at least half a dozen times since the start of the year. And they're volatile -- that is, on any given route they may go up one day and drop a few days later only to rise to some middle pointm and then the cycle starts all over again.
And why are air fares so high and unpredictable? Supply and demand is one reason. The recession has abated and people are traveling again but airlines reduced capacity during the past couple of years. And of course, the turmoil in the Middle East and the tragedy in Japan have wreaked havoc on the oil market, leading to a sharp runup in fuel prices. Then too, airlines follow their own opaque pricing system, which oftens leads to last-minute releases of unsold seats.
So for frugal travelers, there's no sure bet. But do check out the article in the Times, which serves up a couple of websites that can help you nail whatever passes for a cheap flight these days. Then again, maybe you should just forget the whole thing. Train, car, or boat, anyone?
"Ali Velshi looks at two different theories on how to approach the purchase of airline tickets with rising oil and ticket prices on today's American Morning.Should you buy now or wait to book for summer vacation?..."
