Good for airlines, bad for travelers, industry experts are reporting a noticeable jump in Summer airfares from just two weeks ago. Given the news, The Wall Street Journal suggests "the time to buy is now" if you're planning a Summer vacation.
The assessment is based on discussions with people in the know like Rick Seaney, chief executive of FareCompare.com, who commented, "I think for the consumer, it's as good as we're going to get right now. Some prices are $50 to $100 higher than just a few days ago." Higher fares can be attributed to general price increases and the airlines' practice of closing out the cheapest seats as dates of departure get closer.
What does this mean for those holding off on traveling until the Fall? Bob Harrell, president of fare-tracking firm Harrell Associates LLC, gave the WSJ his recommendation and said, "If I were planning to travel this summer, I would buy now. But for fall, I would wait. Right now, airlines are just throwing fall prices against the wall and waiting to see what sticks. There's still a lot of time left later this summer for panic."