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The
Best Time to buy airline tickets is two months in advance of
flying.
The
data comes from a novel mathematical calculation made by the
economist Makoto
Watanabe.
When is the best time to buy an airline
ticket at the cheapest price?
If
the purchase is left to the last moment, prices soar. Then there is the danger that the flight is
complete. But if you book too early, you run
the risk that the plans are changed, having to change the flight,
which is an extra expense.
Watanabe
and Möller findings also suggest that airline tickets are cheaper
when purchased in the afternoons, rather than the mornings.
Speculating that airlines are assuming business travelers will book
their tickets at work in the morning, while
on the job, and charged to the account of the
company. Whereas leisure
travelers are booking from home, usually in the
afternoon.
Why ∏A = gUG +
min(k-g, (1-g)(1-r)) equals low airline fares
The eight-week
rule
The economists write: "When we book our
flight to London weeks ahead we have to account for the possibility
of unforeseen events which make our trip to London impossible. In
order to make consumers take their chances, airlines have to offer
advance purchase discounts. As a consequence, ticket prices
increase as the travel date approaches."
But
just because something is generally true doesn't mean it's always
true (or will continue to be true in the future). Airline sale
alerts and ticket price monitors are still useful
tools.
No
hard-and-fast rule about "the best time to buy" something can hold
true for very long if it becomes widely used. If ticket buyers
start sticking to the eight-week rule, it will presumably change
demand for tickets at the eight-week mark. That will affect prices,
and the rule won't be as useful.
Eight Week Rule
Prices for EasyJet flight booked in
advance as of 21 August
London Stansted (STN) to Munich
(MUC)
1 day = £82.99
1 week = £98.99
2 weeks = £62.99
8 weeks = £19.99
12 weeks = £25.99
References: The Economist and The Guardian
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