Home >Companies >News >This travel portal is offering flight fare lock facility for flyers. How it works

Online travel portal Goibibo on Tuesday introduced the 'Price Lock' feature to help customers lock flight fares up to seven days before they firm up their travel plans.

The feature has been designed to help customers make smart travel decisions by allowing them to book air travel by reserving their seats without paying for the actual price of the ticket upfront.

"Price Lock further secures flyers against any price hike by allowing them to purchase the ticket at the same locked-in price later," the company said in a press release.

The service allows customers to lock airfares for one, three or seven days for a nominal fee - that later gets adjusted into the full price of the ticket at the time of the final purchase.

For instance, a customer purchases three-day Price Lock at INR 180 on 25th July for travel between Delhi to Bengaluru on 3rd August. On the said day the air ticket was priced at INR 5000. However, on 28th July when the flyer returns to confirm the booking the new price of the ticket is INR 6000. In this scenario, the flyer will benefit from reserving the fare by only paying INR 4820 [INR 5000 - INR 180 (Price Lock fee) = INR 4820] instead of the new airfare [INR 6000].

Commenting on the rollout of Price Lock, Saujanya Shrivastava, Chief Operating Officer - Flights SBU shared, "The Price Lock feature is indeed an innovative and relevant solution that will appeal to those customers who cannot book right away but would like to seek some form of price protection until they firm up their decision to travel. Today, travellers are spending more time weighing multiple parameters before finally making a booking and increasingly expect flexible options so that they can plan better."

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