Last minute air travel leads leads to fewer seat options and, typically, higher air fare costs. Almost 1 out of 5 online searches for air travel were for last minute air travel during the 3rd quarter of 2015, according to a recent report.
Last Minute Air Travel Defined
“Last minute” in this context is defined as travel departing within 7 days from the date of booking. Not surprisingly, due to the sometimes uncertain timing for business, business travelers comprise the majority of business travelers. For example, through the first two quarters of 2015, 56% and 73% of all last minute air travel bookings were made by business travelers.
In addition, last minute air travel is primarily made for solo travelers. During the 3rd quarter of 2015, searches for last minute air travel for solo travelers comprised the majority of searches by region: North America (72%); Latin America (71%); Europe (68%); Middle East (75%); and Asia-Pacific (75%).
Last Minute Air Travel Frequency
During the 3rd quarter of 2015, 19% of online searches for airfare in North America were for last minute air travel. This was higher than the level for the 1st and 2nd quarter, which was 16% and 15%, respectively. [···]