9 Things That Influence Plane Ticket Prices

plane ticket pricesIf you’ve ever booked a plane ticket before, you know that the price of the flight can change dramatically in as little as a day and make knowing when to book frustrating. You may have also wondered “what makes the price change so much?” Well our PHL Airport members found an interesting article that explains 9 things that influence the price of plane tickets:

Competition

When it comes to flight prices, the more airlines the better. More airlines mean more competition, and more competition means lower prices in order to get the most customers, so if your flight is available through many different carriers, you’re in good shape.

Flight Distance

Many people believe the further you fly, the more expensive your plane ticket will be. While this is generally true, it doesn’t always work that way. Right now, a flight from Newark to Boston is $161, but a flight from Fort Lauderdale to Boston is $148.

The Government

Every plane ticket that you buy includes various governmental fees like the September 11th Security Fee (which will go up later this year) and the taxes that are tacked on.

Empty Seats

When there are empty seats on a flight, it means that the airline can’t fill them and they lower the price. However, this is not what the airlines want, so over the years, they’ve been working to cut capacity and routes in order to fill up their planes.

When You Buy

Buying your plane ticket at the last minute means you’ll probably be paying top-dollar for it, so if you’re not assigned to a quick-approaching business meeting, book your plane ticket about three months before you depart. Also, check for the best prices on Tuesday afternoons – by this time, airlines have lowered their prices to match their competitors’.

Oil Prices

Planes need fuel in order to fly, and someone has to pay for the fuel – this means you. Just like gasoline, when the price of oil goes up, customers pay more to go places.

Customers

Airlines know that when they jack up the prices of their flights, customers won’t pay for them. That’s why when individual airlines try to raise ticket prices, competing airlines often oppose it because they know they won’t make any money.

Fees

While this doesn’t apply to every airline, most charge you a fee to check your baggage, a fee for an in-flight beverage, a fee for carry-ons, etc. These can add to the price of your flight.

Flight Timing

Before you book your plane ticket, try to plan it out so that you fly on a Tuesday, Wednesday, or Saturday – you’re likely to get a cheaper price. Fridays and Sundays are often the most expensive days to fly, along with certain holidays like Thanksgiving and Christmas.

No matter where or when you fly, trust our PHL Airport parking facility to look after your vehicle while you’re gone. Our fenced-in and secure lot will give you peace of mind.