Mathematician finds formula for cheapest air fares

Have you ever wondered when it would be the best time to buy the cheapest airfare?

You’re not the only one, economist Makoto Watanabe has calculated that the optimum time to buy an airline ticket is eight weeks in advance of flying.

Mr Watanabe has actually gone to the trouble of working out a mathematical formula that has been able to predict the optimum time, eight weeks prior to flying, for buying the cheapest fares on a budget airline.

I’m not sure if his formula works for all airlines, but I’ve been getting emails from budget airlines offering my ridiculously priced fares, the only problem is that I have to buy them almost a year in advance, and I believe that that’s a long time for them to have my money.

According to Britain’s The Guardian newspaper “A 2001 study of flight tickets for 12 different US routes showed that postponing a ticket purchase by just one day raised the price by around 0.1% of the average fare. A 2004 study of flights from Nice airport showed that the average price of a flight increases by 12.7% within the last 22 days prior to departure.”

I also know that if I wish to fly with a full service airline, Qantas, say, then I can book and pay more than 45 days prior to departure and can make a nice saving, which is almost at the level of the budget airlines, with the added advantage of getting the meal and the in flight entertainment, not to mention slightly bigger seats for my massive bum and more leg room, which comes in handy when you’re a behemoth like me.

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