So you need to book a flight, it doesn’t really matter where you’re heading, lets say for the sake of this example that you need to get from London to New York. Some will tell you that the best deals on tickets are to be had at the last minute. Wait until the very last minute and snatch up that last empty seat at a bargain price. Others will tell you to book far in advance, as soon as possible. Over 45 days in advance being preferable. Truth be told, both these tactics are wrong.
Those ideas are myths and the myth has just been busted thanks to FairFly.
You see, we are all lead to believe that prices only increase the closer we get to the flight’s departure, when in reality, prices continually fluctuate until the plane takes off. This is evident from the examples below:
So what is FairFly?
FairFly is a groundbreaking app, and it’s been a long time since we’ve seen an actual groundbreaking app. FairFly was established to bridge this information gap and solve the problem of volatility in ticket pricing. FairFly uses innovative technology that continuously and automatically monitors ticket prices. When the price of the customer’s flight declines, FairFly notifies the customer right away. Thus allowing you to cancel your original ticket and book it again at the lower price.
FairFly essentially unlocks what is potentially hundreds of dollars worth of savings on airfare, after you book (depending of course on your destination and time frame). This is a win-win-win situation. There are no losers here, FairFly has a great business going, you, the consumer only stand to gain and the airlines are selling tickets.
Who’s behind this awesome idea?
FairFly isn’t a bunch of amateurs hoping to make a quick buck. The company was established in December 2013 by four Israeli entrepreneurs: Gili Lichtman, Ami Goldenberg, Aviel Siman-Tov (graduate of the Zell entrepreneurship program) and by Uri Levine (Waze).
Like we said, FairFly saves you money after booking, outsmarting airfare changes. Using a mobile app powered by proprietary algorithms, FairFly monitors price drops in airfare after a booking is complete to save travellers money when ticket prices drop. Travellers simply upload their itineraries via the app and FairFly tracks the itinerary and the associated fees, identifies relevant price drops in real-time and continually looks for better offers. Once the best deal has been found, cancelling and rebooking is facilitated to complete the service. By automating the extensive research involved in tracking price drops and looking for better deals, FairFly completely eliminates the traveler’s risk of overpaying.
Why is this great?
FairFly is pretty amazing for the average consumer as the potential savings are massive. Think bigger though and your mind will be blown. Imagine a large company that sends 200 executives from London to New York once a year. If FairFly can save a mere $150 on each ticket (and it’s likely to save much more), you are looking at an overall saving of $30,000 per year. Doesn’t that sound good? Saving $30,000 dollars without doing anything at all? That’s just a small comapny. Imagine the possible savings for fortune 500 companies with thousands of flights each year? We are talking millions of dollars of saved cash by simply downloading an app.
What does the future hold?
FairFly is already a winner, and that’s not just us getting misty eyed either. They got an impressive first place win at TLV Startup challenge and they also bagged a $2m round funding round from Blumberg Capital. The app initially launched exclusively on the Israeli market but as of this week, it is now available also in the US & UK also. So head over to your respective app store ASAP and download this epic app. Although FairFly is already enjoying success, opening up the service to the US and UK markets represents a big move and now the game is really on. For more information check out their web site, and be sure to follow the team on Facebook, Twitter and Google+ (if you ever end up there by mistake while trying to log out of your gmail account).