Everyone looks for cheap flight tickets. There are many tips and tricks that people use to grab best deals on cheap tickets & flights but ticket pricing is seriously a complicated subject.
Many factors such as less competition, less flights and high capacity etc can make flight charges to go up and down. The interesting thing is - no one can appropriately predict when the prices would go down. Only the airlines decide when to lower down the prices.
As a frequent traveler, the ever fluctuating flight prices can be a matter of concern to you. Here, we discuss why flight prices fluctuate:
The Major Factors
There majorly are following four factors responsible for fluctuating flight prices:
· Oil prices
Out of these, oil prices and tight competition can really affect the flight charges to go up and down. All the above things together determine the load factor. This calculation basically is the percentage of seats booked on a flight. Airlines want this number to be as high as possible. Airlines obviously want to earn maximum profit and they want their flights to fly full; airlines calculate load factor in order to fulfill their goals of profit and flight occupancy.
Airlines constantly try to manage this load factor by varying ticket prices to fill a flight. If both – demand and load factor is low, the airlines will throw on the cheap fare tickets and if the load factor and demand is high, they will raise the price. So, availability of cheap tickets & flights depend majorly on the load factor and demand.
What Type Of Passenger Are You?
Broadly, passengers are of two types – business and leisure. Business travelers usually are quite flexible on the prices because it’s their company paying for the trip but they have fixed dates to fly on. Leisure travelers on the other hand, can change travel dates but may not be that flexible for prices.
Airlines constantly try to maintain a balance between these two types of passengers to earn profit. The simple logic is – why would they fly with cheap fare seats when there are people ready to pay more?
People at airlines are smart. They know that a lot of travelers would book tickets in advance if a cheap price is offered. And they also are smart enough to hold back certain number of seats on a flight for business travelers who will be ready to pay more for a last minute booking.
Concluding that, price of the flight tickets fluctuate according to the demand and type of passengers. Airlines now even have advanced computer systems that can track sales history in the past for a quick comparison. If tickets are selling faster than in the past, the fare is increased. Moreover, if they see their competition raising the price, they would raise it too.
After all this calculation and understanding, it is not impossible to find cheap flights. With a little flexibility in your traveling plan, you can hit the cheap deals. Nanak flights always has lowest priced flights available to help you avoid paying into the airlines’ pocket. So, whenever you need to fly, book at Nanak Flights.