An air travel trends study released on Tuesday points to "lower prices and premium value" for fliers in 2015.
The study, which utilized comprehensive ticket data and a number of credible sources within the industry, was produced by Expedia, Inc and the Airlines Reporting Corporation (ARC), who partnered in order to dive deeper into the data and provide a clearer outlook.
The 24-page study covers several topics, including the best time to purchase plane tickets and what customers might expect to pay, but presents only a handful of key takeaways.
Among those conclusions, the study suggests air travelers book domestic travel at least two months in advance in order to secure the best deal. Likewise, the study suggests that international travel be booked six months ahead of time.
The study also points out that trends show that the gap in cost between premium and economy airfare is shrinking. Good news for air travelers considering business class in 2015.
"The combination of increased demand met by with increased capacity, coupled with lower fuel prices means one thing: it's good to be a traveler in 2015," said Greg Schulze, senior vice president, global tour & transport, Expedia, Inc, in a statement.
"Our intent is that travel hacks coming straight from the Expedia air team, like booking your hotel and flight together as a package to save money, will help make sure travelers know when to book, how to buy and where to go," Schulze added.
Meanwhile, ARC's managing director of enterprise information management Chuck Thackston said the organization was "delighted to collaborate with Expedia on this important study."
"Though several of the results in this detailed study confirmed ARC's earlier findings, Expedia went deeper with their own expertise and data to produce a well-rounded document," Thackston added.
There's no question that the study's findings are extremely encouraging. With prices seemingly coming down and supply and demand both on the rise, there's never been a better time to fly.
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