Happy National Cheap Flights Day! Heres how and when to score the most inexpensive deals: report

Another day, another Day.This week, some folks will be celebrating National Bacon Day, National Tooth Fairy Day and National Soft Ice Cream Day.But buckle up, because the greatest “Day” for affordable airfare is about to take off.National Cheap Flight Day lands on August 23 each year, and is a symbolic kickoff marking the end of a turbulent travel season.As kids head back to class and summer vacations come to the dreaded end, airlines are looking for ways to make money.To get butts into seats, carriers across the skies will drop prices — hoping to entice travelers looking for one last getaway.

But National Cheap Flight Day isn’t actually a real day — instead, it’s a period of time — between late August and early September — where prices drop drastically.“National Cheap Flight Day has never been one magical day when airfares suddenly drop,” Yuvraj Datta, chief supply and revenue officer at CheapOair’s parent company Fareportal, said in a recent report.“As summer demand softens, travelers who compare their options are best positioned to find real savings.”The report showed travelers who book in that time frame historically see significant slashes to both domestic and international flights.

Average fares for domestic flights were about 12% cheaper than they were earlier in August while international flights were about 17% less. The best time to book, the travel company said — 30 to 60 days out.This is when passengers find “consistent savings,” which goes against a myth many travelers believe.

CheapOair said the biggest trap jet-setters fall right into is believing the lowest fares happen months before departure.In fact, 54.7% of respondents the brand surveyed thought the best deals came from months of prep.“Airfare pricing is more fluid than ever, and many of the ‘rules’ travelers rely on aren’t as accurate as they once were,” Datta said. Another widely held booking belief that holds no weight is thinking that clearing you...