The best day to book cheap budget flights revealed

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Stand by your laptops, this weekend is about booking flights.

Easyjet plane

© EasyJet

Looking for cheap flights? Save shopping around until the weekend as a study has found that's when airlines offer the best deals.

Some very lovely economics researchers took a number of factors into account and found that flights booked on Saturdays and Sundays are 5% cheaper than those bought mid-week.

When looking at a 'large set of factors,' explained Steven Puller, an associate professor of economics at Texas A&M University, "the day-of-week of travel, whether the ticket was refundable, the number of days in advance that the ticket was purchased, how full the flights were, and other factors - that tickets purchased on the weekends were sold, on average, for a 5 percent discount."

Splendid news.

The study looked at a historical archive of actual tickets purchased on all major airlines, excluding tickets around big holidays like Christmas.

It also found that routes that served both business and leisure travellers offered the best discounts at the weekend, as opposed to purely tourist destinations.

"If the business travellers primarily purchase tickets on weekdays, then the typical traveller buying on the weekend is more likely to be a price-sensitive leisure traveller than a business traveller," added Puller.

"There is an incentive for the airlines to lower fares on the weekends to try to entice the price-sensitive leisure traveller to buy a ticket."

On top of that, a new study has also found that the best time to book flights with Ryanair specifically is 10 days before you intend to travel.

Economics professor Claudio Piga found that organised people who book seven weeks in advance pay more, shattering the illusion that getting in there early is best when it comes to budget flying.

Meanwhile those last minute globe trotters are also hoodwinked, as prices increase between 50-75% the last few days before travel.

Got any budget travel tips? Tweet us @handbagcom

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