This is the date when airfare drops dramatically pretty much every year


Do you know the magic airfare day?

No kidding. There is one specific day when flight prices fall dramatically. That day is... drumroll please... Aug. 22. If you're planning a hop across the pond, the cheapest days to fly across the Atlantic begin on Aug. 21.

Why the big drop? The kiddos are back in school, so families are less likely to travel. This means airlines have to compete a little harder to fill those seats.

How big is the difference? I jumped on to Priceline.com to run a few tests. I priced out trips for July 25-31 and the same trips for Aug. 22-28. Each trip leaves on a Tuesday and returns on a Monday. Here are the rough averages.

13 PHOTOS
A ranking of America's top airlines
See Gallery
A ranking of America's top airlines

No. 12: Frontier Airlines

Photo credit: Reuters 

No. 11: Spirit Airlines 

Photo credit: Reuters 

No. 10: ExpressJet 

Photo credit: Getty

No. 9: American Airlines 

Photo credit: Reuters 

No. 8: United Airlines 

Photo credit: Getty

No. 7: SkyWest Airlines 

Photo credit: Getty 

No. 6: Southwest Airlines 

Photo credit: Reuters 

No. 5: Hawaiian Airlines 

Photo credit: Getty

No. 4: JetBlue 

Photo credit: Reuters 

No. 3: Virgin America

Photo credit: Reuters 

No. 2: Delta Air Lines 

Photo credit: Reuters 

No. 1: Alaska Airlines 

Photo credit: Getty

HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

Orlando to Los Angeles

July fare: $275

August fare: $182

Washington, D.C. to Denver

July fare: $354

August fare: $281

Tampa to Minneapolis

July fare: $538

August fare: $203

Chicago to Las Vegas

July fare: $361

August fare: $150

Wow. It's no joke. The smallest gap was from Washington, D.C. to Denver, and even that was a savings of $73 per ticket. If my wife and I wanted to hop a plane back to see our friends in Minneapolis, we could save a whopping $335 per ticket. That's like getting the hotel for free. No futon crashing for us!

If you don't have kids and are planning a getaway, consider pushing it back to late August or after. Fall prices tend to stay competitive until the holiday season rolls around in late November. Book early for a post-summer getaway to save big on your next vacation.

Tyler Omoth is a senior writer at The Penny Hoarder who loves soaking up the sun and finding creative ways to help others. Catch him on Twitter at @Tyomoth.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

Read Full Story

Can't get enough personal finance tips?

Sign up for Finance Report by AOL and get everything from consumer news to money tricks delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.