Airline Fares: All these exercise of global indicators and type of journeys lead to the finally calculation of fare and fare is dependent on these.
These fares have flexibility in them. The restrictions with regards to routes, stopover, and advance purchase and even refund restrictions are missing. The routings can be changed and may be bought for one way or a return trip journey. The validity of such fares is for one year duration.
The fare basis mentions the class of the service too. Example YOW stands for a one way fare and YRT specifies Return Fare in an economy class.
POINT TO POINT FARE
These appear in almost all the classes and permit the pax to travel from a point to another point. The advance purchase requirement also does not exist and even refunds are permitted.
Also read Class of Tickets in Airlines
The route is generally of direct flights and sometimes even connecting flights are offered with a condition that stopovers are not permitted. It could be sold on a one way or round basis. They are also valid for one year barring the seasonal clause.
The excursion fares are dependent on the passenger’s stay at the destination as these are governed by the minimum and maximum requirements. These are available all the year round and are return fares only. They are flexible when it comes to routing and even with the stopovers. Refunds are also permitted.
The Airline fare basis here mentions the stay in terms of day or months.
These are advance purchase excursion fares and will levy a penalty if date changes are done. Refund is also highly restricted in these kinds of fares. Stopovers are not permitted and only direct flights are promoted. They are sold as return fares and have minimum and maximum stay clause in them.
Also read Classification of Airline Tickets
PEX and SUPER PEX FARES
PEX stand for Public Excursion fares and have restrictions equal to the apex fares. PEX fares differ from APEX as they can be purchased anytime. In this too stopovers are not permitted and direct flights are promoted.
INTERPRETING FARE BASIS CODE
Fare basis or Fare Basis Code can be alphabetic or alpha-numeric code used in an airlines parlance to recognize a fare type which helps the business partners of airlines like travel agents and airlines staff themselves to consult the rules that govern these fares.
The following categories make up a fare basis code or fare basis together.
The FB starts with the class code. This tells about the class of service example P-Premium class; F will stand for First Class Premium; F stands for First Class, A stands for First Class Discounted; J stands for Business Class Premium; C stands for Business Class; D stands for Business Class discounted; W stands for Economy class Premium; S & Y Economy Class; B/Q/H/T/K/V/L/M/N stands for Economy Class.
Also read Challenges facing by Global Aviation Industry
There may be Seasonal Codes. Examples are H stands for High or Peak Season; L stands for Low or Basic Season; K stands for High Shoulder Season; O stands for Mid Shoulder Season; J stands for Low Shoulder Season.
Days of the week may be mentioned where 1 stands for Monday and 7 stand for Sunday. W may stand for weekend travels and M may stand for Mid-week travel. Passenger and Fare Type Code may exist.
AP stands for Advance Purchase Fare; AB stands for Advance Purchase Fare (Lower Level); AN stands for Non Refundable Advance Purchase Fare; PX stands for Non Refundable Advance Purchase Fare; PX stands for PEX fare; SX stands for Super PEX fare; EE stands for Excursion Fare; BB stands for Budget Fare.
BD stands for Budget Fare Discounted; SS stands for Super Saver Fare; UU stand for Standby Fare; OX stands for One Way Excursion Fare; OW stands for One Way Fare; RT stands for Round Trip fares; CH stands for Accompanied Child Fare; IN stands for Infant fare; CD stands for Senior Citizen fares; SC stands for Ship Crew Fare; ZZ stands for Youth Fare; SH stands for Spouse Fare etc. Airline Fares
Also read Airline Operations
On a flight it is possible that every passenger who is travelling has paid a different kind of fare for his journey.
Special Fares are offered and they can be Excursion Fares and these have least restrictions; Purchase Excursion fares are intermediate fares; Advance Purchase Fares are the lowest fares with a lot of restrictions; Late Booking Fares are the fares, which are last minute bookings.