According to new data released in BTI UK's latest air trends study, booking air travel in advance enables companies to benefit from lower prices and achieve significant cost savings.

The results of the benchmarking study, which monitored fares available in August and September 2005, reveal that companies should consider booking their air tickets three to four weeks in advance to achieve the greatest cost savings. However, the survey also highlighted that organizations can still achieve significant savings even if they are only able to book their flights one week prior to the date of travel.

Using the example of a flight from London's Heathrow to Paris' Charles De Gaulle, BTI UK found that, by booking four weeks in advance, companies could secure a fare of £105. This more than tripled to £353 when reassessed just the day before the date of travel, an overall increase of £248. The survey also found there was a significant rise in the flight price on each day of the final week – even booking seven days in advance rather than five days would result in a saving of £78.

BTI UK was also able to highlight considerable savings on domestic flights. A return fare from London Heathrow to Glasgow could be booked four weeks in advance for £87, whereas a week later it had increased to £270 and finally reached £343 the day before travel.

The UK-based travel management company also presented other key findings:

There has been an overall increase in the average price of flexible published fares
Fares are increasing in business class across the UK and Europe (UK average business class fare up 6.5% to £266, European average business class fare up 6.4% to £585)

Economy fares in both the UK and Europe have declined year on year (UK average economy fare down 6.7% to £195, European average economy fare down 3% to £296)