Rapidly escalating flight prices

TELLIT01

This is really more of an observation than a question, but may well be of interest to those still waiting to book flights for 2024.

I don't normally bother to check flight prices after I've booked but between me checking the price for flights in April and booking in May (for September 2024) the price had increased by £100 for 2 people.  That piqued my curiosity so I looked again in September and the price was over 30% more than when I booked.  Checked again today and the same flight with all the same addons is now 50% dearer than when I booked.  I wonder how many people are going to be priced out of overseas holidays completely with the way things are going.

phatbear

flight pricing is dynamic so looking at the flight price has limited relevance unless you also know how many seats have been booked in the relevant pricing bracket, so for example 50 seats may be £100 then once they are sold the next 50 are £200 then once they are sold the next 50 are £400 etc etc. So if those first 50seats aren't sold they remain at the initial £50, or there abouts, obviouslt eventually the airline would need to bump prices to cover costs too.   

Another factor that falls outside of this is last minute bookings are usually more expensive and post your booking date events may be announced in the local area which can bump the price up too. 

Newbie_John

Between now and September it can get cheaper to what you paid, or it can go up.

They very well driven by demand - as mentioned in a post above.

Also other factors are that around Xmas/early Jan time a lot of people buy their holidays (demand goes up) so the prices go up. They could fall down in late Jan, but it's all lottery - really depends where you flying - summer destinations like Mediterranean tend to stay high all the time, random towns in Romania etc. fluctuate a lot. If for example a competitive airline opens the same route, or drops prices - your airline likely will follow. 

Its just the nature of flights. 

TELLIT01

I'm aware that pricing is dynamic, but I've never seen prices change that much in the past.  We have often checked flight prices a couple of months before booking as we need to know the approximate price before deciding whether to book the accommodation.  There is then a time lapse before receiving confirmation of accommodation availability.

In previous years the price differential has been minimal, this year many people we know are saying how much prices have increased, and continue to increase.

Our travel dates are at times where historically there has been high demand i.e. just before and shortly after school holidays, so I doubt there will be any last minute price reductions.  These are flights to Crete.

jimi_man

I’ve just looked for prices to Greece in July/August. We go every year as we have a boat out there, and the prices are the cheapest I’ve seen since Covid in 2020 (when we paid less than £100 return.)

This is BA so YMMV with other airlines. 

Hoenir

TELLIT01 said:

  I wonder how many people are going to be priced out of overseas holidays completely with the way things are going.

How representative is one flight to a particular overseas destination in terms of people finding an affordable  holiday. 

Airlines need cash to operate during their off seasons. Cheaper to use customers rather than borrow the money. 

TELLIT01

Hoenir said:

TELLIT01 said:

  I wonder how many people are going to be priced out of overseas holidays completely with the way things are going.

How representative is one flight to a particular overseas destination in terms of people finding an affordable  holiday. 

Airlines need cash to operate during their off seasons. Cheaper to use customers rather than borrow the money. 

That flight is just one example.  I am aware of a number of people who have been shocked by the prices they are having to pay this year compared to the same times last year, and previous years.  Many of them travel at the same times each year so are also seeing a rapid upwards trend.  I'm not saying it applies to all flights, just as it would be wrong to suggest all prices are dropping on the basis of a straw poll.  All I know is that none of the people I have spoken to have seen prices fall.

TELLIT01

I would add that I am sure there are still competitive prices out there but when you are really restricted to flying from one of two regional airports the options are more limited.