It's a myth that waiting until the last minute to buy plane tickets yields the lowest prices. While it's not unheard of to score a great deal the day before a flight, you should never count on it. Neither is it wise to purchase air immediately after it's released, which is typically about 331 days in advance. While it may be tempting to buy right away, keep in mind that the price will almost certainly drop in the months after fares are released. New fares may be added or airlines may introduce new routes to include your destination.
If you're flying internationally or to a minor domestic airport, create an account on several travel websites. Set up a price alert for your itinerary on each one to receive notice of a drop in airfare. Monitor airfare fluctuations for a few weeks to get an idea of how good a deal you can expect. Keep in mind that for especially popular destinations, such as London or New York, the price in general is unlikely to drop substantially.
There's no shortage of studies and surveys estimating the best time to buy. For example, the Airlines Reporting Agency shows that the greatest savings occur at about six weeks before departure for domestic flights. FareCompare.com says that Wednesday is the cheapest day to fly domestically, followed closely by Saturday. However, a frugal traveler's best bet is to visit different travel websites and make use of the resources available; graphs, historical trends and info on airline fuel surcharges can be valuable when planning a trip.
Discount airlines, such as Southwest and AirTran, offer affordable domestic airfare but do not publish their fares on travel websites. They also tend to be more flexible than major U.S. airlines with regard to cancellations and itinerary changes. If you're flying within Europe, check out RyanAir, Wizzair or EasyJet; it's common to pay less than $100 for a one-way intracontinental flight. From the U.S. to South America, Spirit Airlines offers low-cost flights and allows passengers to book outgoing and return tickets separately.
Occasionally, airlines post late-night deals, but don't count on it. Many airlines post airfare deals very early in the morning and sell out quickly, while others release cheap fares periodically throughout the day. In fact, FareCompare.com says that Tuesday at 3 p.m. Eastern Time is the best time to buy. For any journey, however, it's almost a certainty that the first flight of the day will also be the cheapest for that particular day. If you don't mind getting up at 4 a.m., you are likely to save a few dollars.
