FlightHub, JustFLy report elements that impact airfare

FlightHub, JustFly has reported findings that reveal what elements drive up airfare costs, the companies said.

CNBC reported decisions are being made by an algorithm that adjusts fares by using information including past bookings, remaining capacity, average demand for certain routes and the probability of selling more seats later.

Airfares are impacted by fare and class types, booking date, airport size, distance, seasonality, seat availability and oil prices.

The following factors influence airfares trip duration, departure days, departure times, indirect flights and airfare sales.