In the old days, the golden rule on booking was: The earlier, the cheaper. But as airline computer systems became ever better at gaming supply and demand, it became hard to know whether to buy or hold off. Granted, business travelers don’t often even have the option—if you have to go, you have to book.
But what happens if that Business Class fare drops between the time you book and the time you depart? Does the airline automatically give you the lower fare and credit the difference?
We surveyed the policies of the six major U.S. airlines and five major European carriers, based on buying a 50-day-advance, non-refundable ticket to Europe. We discovered that yes, you can get the lower fare, but of course it’s not that easy. For one thing, every one of the airlines charges a change fee, even though they’ve changed the price. The fees range from a low of $150 (United) to a high of $400 (Continental, Delta, Northwest). If you’re on one of the latter trio and the fare drops $300, what’s the point of changing the ticket? Moreover, you don’t get the fare difference as a credit, but rather as a non-refundable voucher for a future flight. These vouchers usually come with a one-year time limit.
Keep track of fare promotions and compare the going fare with what you paid, to see if it’s worth changing your ticket. To help you decide, here’s a reference guide to the six major airlines’ policies.
• American: $300 fee to reissue advance-purchase Business Class fare. Balance given as non-refundable voucher.
• Continental, Delta, Northwest: $400 fee to reissue advance-purchase Business Class fare. Balance given as non-refundable voucher.
• United: $150 fee to reissue advance-purchase Business Class fare. Balance refunded in original form of payment, meaning if you pay with a credit card, you’ll get a refund on your next statement.
• US Airways: $250 fee to reissue advance-purchase Business Class fare. Balance given as non-refundable voucher.
• Air France, British Airways, Iberia, Lufthansa and SWISS: Ticket purchased must be refunded and is subject to cancellation penalties. A new ticket must be purchased at the lower fare.