Farecast can be termed as the real web 2.0 application working on data mining and intelligence basics. It analyzes various fares being published by airlines between destinations. Helping customers understand changing fare pattern and help them predict fare. It also has a fare lock feature. Before i explain that and important annoucement
If you belong to a travel portal and reading this blog. Please try to make fare lock as the next functionality available for customers. What farecast is doing by making fare lock feature available to customers by recieving fixed monthly subscription charge from customers giving them facility to lock fares and book cheap airline ticket at a latter date.
This can surely work for people who know they will be travelling but still 20-30% unsure. They can just lock the fare without paying the whole ticket price and going through cancellation policy if it does not work out for them. Example in indian scenario could be INR 999 per month for fare lock facility on non-frill airlines. Only small amount of seats are made available on each route to the site under this scheme but can still ensure more sales.
Some tips for people looking for cheap domestic air tickets
# Never fly on weekend flights as they are most expensive.
# Afternoon flights are the cheapest in day
# Traditional carriers like Jet Airways,Air Sahara Airlines are more cheaper to fly between metro routes(except Delhi-Mumbai) at night times where they dont need to serve you a meal.
#Air-India late nite flight from delhi-mumbai is always cheapest flight i found on metro route.
Hope this helps. Also some kind of data intelligence/fare prediction comes into indian travel market.
Travenues.com company based in india is one to keep track of. Their website tells they are working in similar field but looks like technology providers to next generation travel portals. will await launch of their products to understand what they do best.