Thanksgiving Day is approaching and while most people wait until early November to buy plane tickets, the longer you wait, the more you'll pay, experts say.
"Everyday you don't buy your ticket, add $5 to your online ticket," said Rick Seaney, Chief Executive Officer of travel website FareCompare.com.
With airlines already hiking fares on some routes, Seaney and other travel experts offer advice, and these tips for the busy Thanksgiving holiday period:
Procrastination is a traveler's worst enemy this year and at this point consumers have to be realistic about the kind of deal they'll get, Seaney said. Consumers can tiptoe around higher prices by staying clear of the busiest and most expensive days to travel - Wednesday before and Sunday/Monday after Thanksgiving, he added.
What are the best travel days?
The best bet for Thanksgiving travel is to book a Tuesday departure and Saturday return as there's still a small window of time before ticket prices get out of control on those dates, Seaney said. They should also consider connecting flights, which on many routes are at least $100 cheaper than non-stops, he said.
Travelzoo.com's Senior Editor Gabe Saglie said people should travel on the holiday (first flight) and also avoid the Saturday after Thanksgiving if possible. Taking the first flight in the morning typically means fewer delays and better prices, he noted.
How much higher are fares this Thanksgiving?
"Some flights are just through the roof right now, and I cannot imagine anyone paying them," said George Hobica, founder of Airfarewatchdog.com.
Travelers should be prepared for an increase of 10 to 25 percent on their ticket price, as well as fuller flights, Saglie said.
In the last three months of 2010, average domestic airfares rose 5.2 percent to $337 from the prior-year period, according to the U.S. Department of Transportation's Bureau of Transportation Statistics.
Why are fares higher?
Airline consolidation and route and capacity cuts mean some carriers have fewer planes and seats to fill, experts say. Fares have also spiked to offset higher fuel costs. As such consumers are left with fewer options and higher fares. Among airlines slashing flights this quarter are Delta Air Lines and American Airlines.
Some destination airports previously served by two airlines, now only have one, so there's less competition, Hobica said. United and Continental airlines used to fly from Asheville, N.C. but only United remains, he said.
Even low-cost leaders such as Miramar-based Spirit Airlines have bumped up fares. The carrier recently raised fares $5 system-wide, officials told analysts in an Oct. 27 earnings call.
How many airline seats have been eliminated this Thanksgiving period?
More than 600,000 airline seats, or 8,000 flights, have been reduced from the Saturday before Thanksgiving to the Monday after the holiday, according to FareCompare.com.
Are there any upsides for South Florida travelers?
South Florida airports, especially Fort Lauderdale and Palm Beach International are typically among the cheapest airports to fly from nationally.
Several low-cost and value carriers serve the area, including Allegiant Air and Southwest Airlines, Hobica said.
In the fourth-quarter of 2010, Fort Lauderdale-Hollywood International ranked among the top five airports with lowest average fare of $244, according to federal data.
What are some ways travelers can save on traveling costs? Travelers should pack light to avoid checked and overweight bag fees, use off-site parking lots instead of airport parking garages as they're generally cheaper; and choose airlines that allow at least one free checked bag. Travelzoo's Saglie also advise travelers to consider using a regional or alternate airport. For example instead of flying into Los Angeles International, try Long Beach's airport instead.
How can travelers find the best fares/savings? Sign up for fare alerts; comparison shop fares on websites such as Orbitz.com and Kayak.com; join frequent flier and loyalty programs. Even if you don't plan to travel if airfares are too high, keep checking for last-minute sales that could pop up on your target flight.
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