Within each travel class there are often different fare classes, relating to ticket or reservation restrictions. Passengers within the same travel class receive the same quality of accommodation and may take any seat in Economy class cabin. So what does the Economy Y, B, M, N, H, Q, K, L, U, T mean?
Strictly speaking Economy class fares vary by the terms of the return and exchange the ticket, discounts for children, how far ahead the ticket must be purchased, or how long the length of stay is. Fare conditions determine the the penalty for refund, upgrade or making changes in the ticket.
Airline fare classes are commonly indicated by letter codes, but the exact hierarchy and terms of these booking codes vary greatly from carrier to carrier.
Basically there are three main fare class groups:
| Full fare | Standard fare | Special or discount fares | |
| Fare code | Y, B | M, H, N | G, K, L, O, Q, S, T, U, V, W, X |
| Ticket validity period | 180-365 days | 30-180 days | 30 days |
| Open date | Allowed | Not allowed | Not allowed |
| Refund before departure | Without penalty | With penalty | Not allowed |
| Refund after departure (no-show) | Without penalty | With penalty | Not allowed |
| Make changes (ticket exchange) before departure | Without penalty | With penalty | With penalty |
| Make changes (ticket exchange) after departure | Without penalty | Not allowed | Not allowed |
Furthermore, in some cases it’s not possible to choose a seat during check-in for some fares. And finally, you get different amount of bonus miles for different ticket fares.
Conditions on board are the same regardless the selected fare, but price can differ by 7 times. So the conclusion is simple: if you are confident with your plans – take the cheapest fare.