When is the cheapest time to book a flight?
Who said booking a flight is easy? If you want to score that cheap flight tickets, booking becomes a true art. The one that masters it, will be able to save both time and money. But, when is the cheapest time to book a flight? We wish that there would be a scientific answer to that question. However, it all comes down to simple economics, going to that equilibrium of price and demand.
What determines the price of a ticket?
The largest proportion of costs when buying a ticket comes down to supply and demand. When the supply is high, prices tend to be lower. In that case, the cheapest time to book a flight would be the fastest. Meaning, you should book your flight in advance.
Booking cheap flight tickets is not that easy…
When booking a flight ticket, this is not the only element to take into account. For example, the number of flights are also important. As more flights head to the same direction, there is more supply and so more chance of scoring a cheap flight ticket in advance. Seasonality is another element, where the Christmas period is often very expensive. Taking these variables into account helps to determine the cheapest time to book a flight.
Lucky you! Flying off-season makes it easier to book your cheap flight tickets. You have more freedom in when to buy your ticket. Less demand means more flexible prices. Last minutes could provide you with a good price, especially when you are looking for a holiday destination. Consider that there are less flights and thus demand might be lower. More tips for finding your cheap tickets, go to Opodo.
What about the time of the day?
Well, we know the rumors. Buying a ticket at night is supposed to be more expensive than during the morning or night. This has not been proven to be the time as the variable. The algorithms used by the airline look at the demand of the tickets. When more people search for the ticket at night the price will increase. However, for less popular destinations, this does not hold true. There is no such thing as the cheapest time to book a flight, but demand does playa role. Going to a popular destination? The demand on a time of the day can definitely have an impact. When traveling in a less demanding period and/or to a less desired destination? The effect of the time you book will be negligible.