Today (Aug. 23) is National Cheap Flight Day, marking an industry trend that typically sees airfares drop in price following the higher-priced summer travel season.

Historically, late August is the time of year when the summer travel rush has ended and airlines are looking to attract travellers with reduced fall and holiday fares, explains Daniel Hayter, Senior Product Manager for online retailer CheapOair.ca.

But he adds, “It’s important to note that National Cheap Flight Day goes beyond just the day and marks the start of the off-peak season.”

Through comprehensive travel trend monitoring of historical web site bookings, CheapOair.ca results are showing that the average cost of a domestic airline ticket in the period following Aug. 23 averages a 17% decline from the peak airfares during June and July 2023.

Furthermore, the same data shows that international flight fares have decreased on average 21% when comparing travel after Aug. 23 to the summer’s fare high point.

“It should be noted that this does not mean that all airfares will decrease as some destinations may increase or stay the same depending on frequency and availability,” added Hayter.