Procrastination might lower your air fare
Early birds aren't necessarily getting the best air fares this holiday season - and procrastinators can end up getting a good deal.
With lower oil prices and slumping demand for air travel, airlines are slashing winter fares, so much so that travelers who waited are finding some of the lowest-priced plane tickets in years.
The bottom line: It might not be too late - even for the holidays - to find an affordable air fare. Just don't try to fly on days when everyone else is taking off.
"Forget the early bird getting the worm," said Tom Parsons, chief executive of Bestfares.com. "There is no reason to buy tickets in advance anymore."
It used to be - and many airlines continue to push the idea - that travelers who bought plane tickets early got the best deals because fares typically increased as the departure date got closer. Indeed, buying a ticket at the airline counter a few hours before the flight can cost two to three times more than a ticket purchased in advance. It's the price business travelers and harried passengers have to pay.
But with the economy in recession, flights to certain cities on certain days during the holidays still have empty seats - and that's despite the airlines cutting back. In November, big US carriers reduced capacity by 7 percent, but passenger traffic fell by 10 percent. Analysts are expecting a repeat in December.
With fuel costs one-third of what they were last summer, airlines also have a lot more wiggle room to slash fares. And with last-minute cancellations made by travelers who lost their jobs, some airlines are offering deals that require only a one-day advance purchase, compared with the two-week requirement that has been the standard.
"You'd be surprised how airlines are opening up cheap seats at the last minute," said George Hobica, president of Airfarewatchdog.com. "If you haven't made plans already, you may be rewarded."
But keep in mind that fares can vary day by day - or even hour by hour, he said. 