Travelers buying more one-way flights following price drop
IT’S a widely known fact among frequent travelers you can save more by buying round-trip tickets than one-way routes.
But following a shift in price premiums, one-way fares have become increasingly cheap, accounting for 42 percent of air travel this year up from 29 percent three years ago, according to Airlines Reporting Corp (ARC).
According to a report on Bloomberg, the price drop is especially evident on leisure routes with prices on corporate travel destinations remaining the same. This could potentially serve travelers who enjoy crossing borders within long trips.
ARC said in the report: “The long-held belief it is better to buy round-trip tickets whenever possible to get the best fares is simply no longer true.”
However, travelers could also face the possibility of higher change fees on return fares if cheap one-way routes become more common.
“If the full itinerary is changed, the traveler may incur two change fees and that may make round-trip ticketing a better option in some cases,” ARC said.
Travelers on the hunt for a bargain are also eschewing the myth that Tuesday is the cheapest day of the week to buy airline tickets.
According to recent data from aviation insights company Hopper, there isn’t a day in the week where tickets are manually reduced as most airline prices are now automated based on live demand and supply.
“People want there to be this kind of golden rule you can use to know when to book your airfare,” Hopper chief data scientist Patrick Surry told Bloomberg.
“But it’s hard to have a rule of thumb when the system is adapting in real time.”