Europe flights

Who knows. I'd buy now.

I always buy as soon as I've decided on my travel dates, on the theory that prices may go up and down, but the number of available seats on my dates will only go down. If you want to wait, sign up for email price alerts on one of the travel web sites, such as FareWatcher Plus on Travelocity.

I'm going in May. I am buying my ticket now as I've been watching them slowly climb over the last 2 weeks.

I agree with previous posters - it is hard to tell if fares will drop. On the other hand, if you check a site like Travelzoo (airfares to Europe) you will note that airlines have barely started offering spring fare sales. This suggests that airfares may go down a little.

Right now, airline fuel prices are at or near their all time high. Unless fuel prices drop, airfare probably won't go down significatntly. With Iran threatening to close the Strait, prices will probably go up (even if it's an empty threat). Since I'm not expecting fares to drop, the next thing is to find the best flight schedule for you. Locking in early gets you the departure times and connections you prefer - which can be as important as a good ticket price.

According to this article: http://travelkit.msnbc.msn.com/_news/2012/01/17/10176475-second-fare-hike-of-the-year-portends-higher-prices-to-come?chromedomain=overheadbin
the direction of air fares is up. The recent EU pollution tax has all ready added $6.00 per round trip and with the June Olympic Games in London, you can imagine the demand for tickets will be very high.

Oops, try this: http://travelkit.msnbc.msn.com/_news/2012/01/17/10176475-second-fare-hike-of-the-year-portends-higher-prices-to-come

Thanks everyone! We went ahead and got our tickets - looked like they were only projected to go up, up, up!!