The travel season approaching the end of the financial year (EOFY) in Australia (and indeed all parts of Australia), is gaining momentum, and all indications from the market indicate that the best airfares will not be available until after the end of financial year (EOFY). It is already tracking down “the best airfares in June” from news.com.au, and they are doing so daily. In addition, new promotion codes, discounts and packages are being released each day during the month of June, thus indicating that the season on the runway has begun, sales are occurring now, and astute travellers are going to book their flights immediately before many of the strong sales vanish.
One of the airlines most significant discounts is Virgin Australia, who has a sale of up to 25 per cent in their sale for Adelaide, and their sale of selected flights for Adelaide are good until June 7th; Virgin is offering discounts on certain international flights, as well as on multiple domestic flights to points in Australia, proving how EOFY has become a very aggressive, time-sensitive, high-traffic travel opportunity for those seeking to book travel for the middle to later parts of the year, without having to pay the higher rates for flights that occur during peak-season months.
The urgency surrounding these recent sales creates a compelling reason for consumers to buy. The end of the financial year is June 30, and sale activity typically ramps up in the weeks leading into that date as retailers and travel brands attempt to make their sales numbers before the end of the financial year clock re-sets. In another example of this urgency, a travel roundup related to the end of the financial year states that one sale for travel is limited to a 10 per cent discount and ends on June 11, which demonstrates how quickly generous promotions can be gone.
A particularly compelling aspect of promotions at the end of the financial year is how airlines use these promotions to move demand forward. Travelers are incentivized to book their future travel now instead of waiting for school holidays or peak summer, often with limited time offers, limited routes, and restrictions on dates. The combination of both scarcity and time create a competitive spirit for airfare sales that can change an ordinary airfare sale to a race against time. The above is a conjecture made based on the manner in which airfare sales have been structured as outlined in the current end of the financial year coverage.
The basic advice for travelers is to look at the route instead of a headline fare. While one destination may have a discount that is the reason you will see it advertised, the true value of the fare is typically found in the lesser known aspects of it, such as short haul international flights, off peak travel times and/or flights leaving from less congested cities. This is part of the reason that EOFY fares get so much attention; they show where airlines are most willing to fill seats not just because they are a cheaper way to travel, but also where the most opportunity exists for air travel.
The better story about EOFY is that it has expanded beyond clearance on furniture and appliances to now include travel as part of that mix. Airfare deals during EOFY are reflective of Australian’s continued desire to escape, but at the same time they are much more sensitive to price and deadlines than they were in years past. The airlines understand this and their intend is to use fare cuts during June as a way to entice passengers who may be curious about travel to turn that curiosity into actual booking.
If you’re thinking of getting away for winter, the opportunity is immense but you will have a very small time frame to complete your booking. There are many bargains available now, so you need to act fast. Don’t hesitate to buy something from your favourite travel market! Timing is also extremely important when it comes to travel at the end of the EOFY; don’t wait to purchase if you want a bargain.
