In past years, Memorial Day signaled the end of sweetheart flight prices. This year, a sinking economy stretched the deals a bit longer, but experts say the good times may be coming to a close. Remember the problems last summer, with higher prices blamed on jet fuel? Well, we could see the cost of oil work the same dismal magic this summer.
Rick Seaney, CEO of FareCompare.com, cites recent fare increases of $10 to $20 per roundtrip as an indicator that we are the brink of an upswing. But, these are counterbalanced by new lows elsewhere. A recent survey by Travelocity shows ticket prices down 17 percent for trips between Memorial Day and Labor Day. So, buyers and sellers are locked in a silent struggle to determine how much your next vacation will cost.
With an eye out for possible deals, customers are waiting, booking their flights 86 days ahead instead of the usual 90. While this doesn’t seem like much, it takes a lot of last minute purchases to bring the average down.
Even if airline fares are coming back, you can still take advantage of the lows now. If you’re thinking about taking a vacation, stop … and take action instead.