Prices soar – and come down to earth

AIRFARES are experiencing some heavy turbulence, new figures show, making it trickier for travellers to get the best price possible. A new analysis of government data by CommSec found that discount airfares have dropped 15.6 per cent in October after soaring 27.4 per cent higher in September, and are up 5.2 per cent over the past year. CommSec chief economist Craig James says airlines are trying to cover higher fuel prices and boost their profits in a highly competitive market.

“The bottom line is that it pays to shop around. Costs are rising for airlines but competition is strong, making for more volatile times,” he says. “Travellers are still doing well with airfares historically low.”

Finding cheap airfares is often about timing and research.

Compare prices online through sites such as webjet.com.au, skyscanner.com.au and flightcentre.com.au to get a great idea of your options.

Midweek is usually the cheapest time to fly, and you can save more money by avoiding the morning and early evening peaks. Being flexible with your dates can help.

Earlier this year Skyscanner examined three years of airfare data and found that November is the cheapest month for Australian air travel, costing about 12 per cent below average prices.

December is the most expensive month, costing about 20 per cent more. The best time to book flights is 17 weeks before departure, to save about 5 per cent, it found.

Travel agents can be a great source of information, but it’s still worth checking that the prices they offer you are the best available.

MyBudget director Tammy Barton says it pays to sign up to airline and airfare aggregator websites, which should send you price information and specials.

“When comparing airfares, make sure that you’re comparing apples with apples,” she says.

“Keep in mind that some airfares come with hidden extras – on top of the ticketed price, you may need to pay more for checked baggage, meals, seat selection and inflight entertainment.

“Frequent flyer points are a great way to save money on airfares – just make sure that you book early because those seats fill up fast.”

Barton says people can save hundreds of dollars on airfares by avoiding school holidays and other popular travel times.