Fare types
Generally, there are two categories of airfares—normal fares and special fares. Normal fares are available for all classes of service and are flexible and, therefore, more expensive. Normal fares are typically valid for one year. You can buy them from airlines, travel agencies, or online booking sites. Special fares have restrictions attached to them, such as minimum stay restrictions or advanced purchase requirements. Some fares have a specified routing, making them less expensive. The routing fares have an exception to mileage-based pricing, allowing travel at the specific fare via a certain route only.
Different fare types apply in different markets, but they typically fall into the following categories:
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Normal fares
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Point-to-point fares
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Excursion fares
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APEX fares
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PEX and Super-PEX fares
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Branded fares
However, these are just guidelines. Airlines can name and categorize their fares however they choose.
Normal fares
Normal fares are flexible, and there are no routing, stopover, advance purchase, or refund restrictions. They may be re-routed without restriction and purchased on a one-way or round-trip basis. Normal fares are typically valid for one year.
The class of service usually appears on its own as the fare basis (for example, Y, C, F, R, although Y1 or J1 may be used to indicate the highest fare level, and YOW or YRT to identify one-way or round-trip fares). The class of service may be followed by a seasonal indicator (for example, YL indicates economy low season.)
Point-to-point fares
Point-to-point fares enable passengers to travel directly from point A to B and may be seen in any class. There are usually no advanced booking requirements or refund restrictions. Routing is usually limited to direct flights, although connecting flights may be available, providing no stopovers are made.
Fares may be sold on a one-way or round-trip basis. Round-trip fares are typically valid for one year, provided there are no seasonal restrictions.
The code 2 or 3 may appear at the end of the fare basis (for example, Y2, C3, and SLX2).
Excursion fares
Reservations for excursion fares may normally be changed, subject to minimum and maximum stay requirements. They may normally be purchased at any time and sold on a return basis. Routing and stopover requirements are generally flexible, and there are usually no refund restrictions.
The code E or EE is found at the end of the fare basis followed by the maximum stay in terms of days or months (for example, YLEE14 or BEE3M).
APEX fares
Reservations for Advance Purchase Excursion (APEX) fares cannot normally be changed without a penalty, and often have some type of refund restriction. There is some advance purchase requirement, usually no stopovers are allowed, and direct flights are used. They are typically sold on a return basis and have a minimum and maximum stay requirement.
Codes AP, AN, or AB are normally included on the fare basis.
PEX and Super-PEX fares
These are Public Excursion fares and have the same restrictions as APEX fares but may be purchased at any time. Usually, no stopovers are allowed, and direct flights are used. There are minimum and maximum stay requirements, and they are typically sold on a return basis.
Codes PX or SX are included in the fare basis.
Branded fares
Most airlines offer different branded fare levels, like Light, Standard, and Flexible. Each set of fare types has its own characteristics and conditions. For example, light fares often have no baggage allowance.