Experts predict that airfare rates might drop 10 to 20 percent by the end of August.
Airfare comparison site FareCompare.com believes that every year post summer the prices are slashed but that might happen a little earlier in 2012.
According to Rick Seaney, co-founder and CEO of FareCompare.com, as reported by USNews: "Most of the savings are due to the end of peak travel season surcharges which all legacy carriers added for the summer travel season. Once the fall season kicks in, surcharges will be dropped and low-cost carriers will match the larger airlines' lower ticket prices by cutting their base airfares.
Gone are the trends of aircrafts being packed in spite of sky-high prices. Customers are being smart enough now to choose to stay home or opt for other means of travel.
This has awakened the airlines and they now are working on ways and means to attract customers to travel by air. Special offers are bombarding people's inboxes with slashed flight fares. But there are no changes in the existing baggage and ticket cancellation and change fees. If experts are to be believed, this is likely to get worse with a few airlines now even charging for carry-on luggage.
"If anything they're increasing in terms of the price and number of fees," Alicia Jao, vice president of travel media of the finance website, NerdWallet told U.S. News.
She adds that Southwest and JetBlue tend to be the best airlines overall when it comes to fees these days.
Looking at the bigger picture, the airline industry has come a long way battling bankruptcies. Slashing prices and trying new offers to woo customers should not come at a heavy cost.
"It's tough because the airline industry has been plagued with declining profits and it's just starting to get back into the black. I wouldn't advocate for anything that really hurts the industry from having a viable business model in the long run, but there really does need to be consumer protection in the area," Jao said.
However, travelers can be happy for the time being and quickly book tickets for late summer trips as the cheapest seats are mostly limited to only about 10 percent of a plane's capacity.
This article is copyrighted by Travelers Today, the travel news leader
