(NewsNation) — If you’re thinking about flying with the holidays just around the corner, get ready to pay sky-high prices, as holiday flights are expected to be the most expensive in five years.
Thanksgiving airfare is averaging about $350 round trip, while Christmas is even pricier at $460.
The high fares come as many travelers this year have navigated flight disruptions and cancellations.
Dan Roccato, a finance professor at the University of San Diego, discussed the sky-high fares expected this holiday season during an appearance on NewsNation’s “Rush Hour.”
“Here’s what’s happening: Supply is down. Airlines have cut their schedules and they still aren’t back to normal,” Roccato said. “Demand is up. Consumers want to travel. You and I want to get moving again. And that means we’re going to pay more for the privilege.”
It’s not all bad news, though, as at least one cost is expected to go down a bit.
According to Roccato, car rental costs will be about the same as last year, if not a bit lower.
“Car rental companies have replenished their lots,” Roccato said. “They were really thin lots last year. So finally they’ve got some cars on the lots and that means that you and I will finally be able to rent a car and rent it at a decent price.”
Roccato also shared a couple of travel tips.
“No. 1, be flexible,” he said. “If you have flexible dates where you can arrive and depart Monday, Tuesday, Wednesday instead of a Saturday, you might be better off. If you have a flexible destination, even better.”
So if you’re going to go on vacation, Roccato said, try to avoid the really popular spots. Maybe target something a little bit off-season. You’ll save some money.
“Book before Oct. 10,” he said. “Generally speaking, that’s the time you’ll get the best fares. After mid-October, you’re really looking at some steep fares.”
Also, Roccato said to look for discounts, and use the best credit card in terms of cashback or rewards or discounts on airlines and hotels.