Posted: Nov 8, 2009 7:22 AM by Associated Press
For those booking flights for the holidays, patience may not be a virtue.
Fares for travel around the holidays have been rising since the summer. Christmas fares are now 4 percent below a year ago, a gap that's likely to close up soon. Microsoft's Bing Travel says average Thanksgiving fares, meanwhile, are up 2 percent to $351.
A year ago with the recession at full force, airlines were slashing prices, and those who waited saved money. This year, the same tactic could cost you.
Most carriers have pushed through a $10 fare increase last month, and big airlines have added $20 each way on popular travel days around Christmas and New Year's. Airlines have also done away with flights to match the decrease in travel, and with supply more in line with demand they've been able to raise fairs to near their year-ago level.