Top Travel Myths | 2008
Reality: This oft-quoted theory is based on a practice that's faded rapidly with the massive growth in online booking. A while back, on a Tuesday or Wednesday evening many airlines released reservations that hadn't been paid for—so a flurry of discounted fares suddenly appeared. But the theory is outdated. Nowadays, airlines rarely hold reservations at all, and if they do it's generally only a guarantee that a seat—but not the price—will be held. Typically the only way to hold a seat and secure a particular fare is to purchase on the spot. Farecast.com uses historical data to track prices and make educated guesses as to whether a fare will dip or rise, but there's no predicting exactly when flight prices will change.
Current Advice: The best approach is to keep tabs on fare sales—registering for airline e-mail newsletters is one way—and then pounce on a good price
when you see it.