Fare basis (code)

Fare basis (code) definition

Fare basis (code) refers to the alphanumeric code that determines the price of an airline ticket. This code corresponds to a particular fare class, which is a set of rules and restrictions that govern the fare’s availability, flexibility, and refundability.

The fare basis code consists of several components, including the booking class, fare type, and fare level. The booking class indicates the type of seat or cabin class that the fare applies to, such as economy, premium economy, business, or first class. The fare type indicates the type of fare, such as one-way, round-trip, or multi-city. The fare level indicates the pricing level within the fare class, such as a discounted, regular, or full fare.

The fare basis code is used by airlines to manage their pricing and revenue management strategy. By assigning different fares to different fare classes, airlines can optimize their yield and maximize their revenue. The fare basis code is also used by travel agents, online travel agencies, and GDSs (global distribution systems) to search for, compare, and book airfares for their customers.

In conclusion, the fare basis (code) is a crucial component of the airline pricing system, as it determines the price, availability, and flexibility of airline tickets. Understanding the fare basis code is essential for travelers and travel agents who want to find the best deals and prices for their flights.