Fare class
A fare class (also known as a booking class) is a subdivision of an airline service class (economy, business, first class). Typically, there are multiple fare classes within each service class depending on the airline, the route, and the aircraft flown. Each fare class is identified by a one-letter fare code.
Fare classes determine the benefits and/or restrictions that you’ll enjoy and/or suffer as a result of the price you paid for your plane ticket. Generally, more expensive fares translate to better fare classes with better benefits and higher priorities for standby, upgrades, and boarding. The cheapest fares have the most restrictions on baggage allowances, frequent flyer miles earnings, refunds, and changes. The least expensive fares have lower priorities for standby, upgrades, and boarding.
When purchasing flights online from some airline websites, look for a link to the fare rules. In the fare rules, look for the fare basis, a code composed of multiple letters and sometimes numbers. The first letter in the fare basis code is the ticket’s fare class. On other airline websites, the link may be labeled “booking class” or “fare class”.