Programs for frequent fliers in 2024 differ from past years. Bargain hunters will be happy to see a return to low-cost flight deals, but watch out for fees that might take a bite right back out of your travel budget.
To understand what the year will bring for frequent fliers, Sandra Block, senior editor for Kiplinger’s Personal Finance magazine, sat down with Katy Nastro. Ms. Nasto is a travel expert for Going.com (formerly Scott’s Cheap Flights), a subscription service that alerts travelers to deals on airfares.
Frequent fliers in 2024: the summer travel season
What’s the outlook for the 2024 summer travel season?
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
We’re not anticipating any major increases in airfares in 2024. Airfares won’t go back to pandemic lows, when you could get a round-trip ticket to Europe for around $200. But we anticipate deals that we haven’t seen for quite some time will come back. For example, Going.com recently found a $399 round-tripfare from Phoenix to Madrid, which we hadn’t seen in over a year. However, a deal that might have been available for five days in the past may disappear within one or two days.
If you see a really good deal and it fits your budget, go ahead and book it, and remember: If you book directly with the airline, you have 24 hours to ask for a refund, so you’re not locked in.
What about fees?
To encourage nervous travelers to fly, many airlines scrapped flight-change fees during the pandemic. Do you expect airlines to reinstate them? And do you anticipate increases in baggage fees?
Analysts assumed that once the industry recovered from the pandemic, change fees would come back. But so far, they haven’t. We don’t expect any airlines to bring back change fees for standard economy tickets in 2024. But if you buy a basic economy ticket, nine times out of 10 it will have a change fee.
When it comes to bag fees, most U.S. airlines charge about $30 for the first checked bag on domestic flights. We expect at least two carriers to increase that price to $35 this year. Data shows that airlines can generate quite a bit of money by raising baggage fees by just a small amount, and the last time major carriers increased fees was in 2018.
How to beat the crowds
You’re predicting that there will be a record number of air travelers this year. What advice do you have for travelers who will likely face big crowds at the airport?
If you don’t have TSA PreCheck, which provides expedited security screening, this is the year to get it. It’s good for five years, so it’s worth the cost [a $78 fee for first-time enrollees] even if you fly only once a year. Not having to wait an hour or more in security lines reduces the stress of traveling.
If you’re looking for cheap flights and you can be flexible, go in the spring or after Labor Day. September is a fantastic month to go to Europe. For those who need to travel in the summer, try heading out the first two weeks in June or the last two in August, when airfares can cost up to 30% less than in the peak of summer.
Use those points and miles
Last year, Delta Air Lines changed the way its frequent-flier miles are structured, reducing the value for many longtime customers. Do you expect other airlines to follow suit this year?
In the past decade or so, airlines have been moving toward rewarding fliers who spend more versus those who fly more. Delta rolled back some of its changes in response to the backlash it experienced, but you still need to spend more money to get the benefits. While it’s unclear whether another big airline will follow suit, if you’re sitting on points and miles, try to use them this year instead of hoarding them, because there’s a good chance they’ll lose some of their value moving forward.
What about Alaska Airlines?
Alaska Airlines plans to buy Hawaiian Airlines for $1.9 billion, pending approval from the U.S. Department of Justice. How would the merger affect fares to destinations served by those airlines?
Going.com founder Scott Keyes correctly predicted last year that the Justice Department would block JetBlue’s proposed acquisition of Spirit. Even though this administration isn’t super merger-friendly, we suspect this merger will get the green light from regulators. But the process takes a long time, so even if this merger goes through, we’re unlikely to see its effects on airfares within the next year.
Read More
-
Dow Jones Adds 463 Points as Rate-Cut Odds Rise: Stock Market TodaySome futures traders are now pricing in the possibility of a jumbo rate cut in September, which lifted stocks today.
-
Bullish IPO: Should You Buy BLSH Stock?Wall Street is buzzing about the Bullish IPO. The Peter Thiel-backed crypto company went public on August 13, and BLSH stock nearly doubled in its market debut.
-
Think Twice Before Co-Signing or Guaranteeing a Lease for Your KidsIf you co-sign or guarantee a lease for your kids, make sure you understand the risks.
-
How to Guard Against the New Generation of Fraud and Identity TheftIdentity Theft Fraud and identity theft are getting more sophisticated and harder to spot. Stay ahead of the scammers with our advice.
-
12 Ways to Protect Yourself From Fraud and ScamsIdentity Theft Think you can spot the telltale signs of frauds and scams? Follow these 12 tips to stay safe from evolving threats and prevent others from falling victim.
-
Watch Out for These Travel Scams This SummerIdentity Theft These travel scams are easy to fall for and could wreck your summer. Take a moment to read up on the warning signs and simple ways to protect yourself.
-
You Need to Have This Financial Talk With Your SpouseWomen are poised to inherit significant wealth from their husbands. Here's how they can prepare for it.
-
Three Ways to Find Deals in Your Investments This YearLooking for ways to save because of tariffs? Don't forget to look for deals in your investments. Here are three expert tips for making a little extra this year.
-
Don't Miss Out on These Four Credit Card BenefitsCredit card benefits aren't always limited to cash back, points and miles. Check whether your existing card offers these valuable extras — or switch to one that does.
-
Smart Ways to Save Money at MuseumsWant to save money at museums, art galleries, zoos and gardens? Use these tips to get free or discounted admission to national and local collections.
