Retail economy airfares are at their lowest point globally
since 2013, and advance-purchase policies of at least 21 days still offer
significant savings, according to a study by ARC and Expedia.
Only two routes showed a year-over-year increase in average
economy fares this year: flights between South America and North America (up 1 percent)
and flights between Japan and Northern Europe (up 5 percent). Economy fares decreased
across all other regions, most significantly on routes from South America to
Southeast Asia (down 31 percent), South America to Southern Europe (down 15
percent) and China to Southern Europe (down 15 percent), according to the
study.
Additionally, the study showed that buying tickets more than
21 days in advance still yields savings on most routes. On some—including flights
within Europe and flights from the United States to each Europe, Asia and
Australia—those savings averaged 25 percent or more.
Even
so, the survey showed that a global advance-purchase policy can detract from
savings in some cases, as a few routes averaged cheaper prices with closer-in
bookings. Flights within India, for example, were 29 percent cheaper when
booked within 21 days of travel, and flights within China were 48 percent
cheaper.