FairFly monitors fluctuations in airfare after the ticket is purchased. FairFly monitors fluctuations in airfare after the ticket is purchased. FairFly monitors fluctuations in airfare after the ticket is purchased. (Photo: Alexander Kalina/Shutterstock)

Think you scored a cheap flight? Here's how to find discounts after booking

FairFly tracks airfares so that if your ticket price drops, you can rebook and win back the difference.

Searching for the lowest possible airfare can be agonizing. Costs fluctuate constantly, and you're never quite sure if the price is a steal or a swindle. But thanks to a trio of young entrepreneurs, that uncertainty no longer needs to be a factor in the booking process.

FairFly is a mobile and web app that allows you to track changes in airfare prices. Started by three Israeli friends, it monitors and searches for cheaper fare for your flight route after you've made the purchase.

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All you do is send along the purchased ticket to FairFly, and the system then alerts you if it finds an option that costs at least 5% less than the original ticket or saves $50 (the higher of the two).

FairFly charges no fee unless an exchange is made, at which point it takes 9% of the price differential between the original and new ticket.

Uri Levine, co-founder of navigation app Waze, came up with the idea for FairFly.Uri Levine, co-founder of navigation app Waze, came up with the idea for FairFly. (Photo: FairFly)

With offices in Israel and California, FairFly has major support behind it, including from Waze co-founder Uri Levine. A current investor in the project, he mentored the three co-founders, Gili Lichtman, Aviel Tov and Ami Goldenberg, while they were students in an entrepreunership program at IDC Herzliya, a university in central Israel.

According to Levine, people overpay $100 billion a year because they don’t check the prices after they booked a ticket.

Thanks to FairFly, that number is set to shrink dramatically.

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