For years, travelers could count on ultra-low-cost airlines to keep airfare competitive. But that landscape is changing.

As several budget carriers have reduced service or exited routes, airfare on many former low-cost routes has climbed. At the same time, major airlines are investing more heavily in premium cabins, loyalty programs, and higher-value travelers rather than expanding their cheapest seats.

Higher fuel costs have also added pressure, making it more expensive for airlines to operate flights and limiting the deep discounts travelers have come to expect.

If you're planning a trip this year, experts say it may be worth booking earlier instead of waiting for last-minute bargains that are becoming less common.

Before purchasing the cheapest ticket available, consider what's included. A slightly higher fare may offer benefits such as seat selection, a carry-on bag, or greater flexibility if your travel plans change.

For international trips, it's also worth understanding your passenger rights. Travelers flying to or from Europe may qualify for compensation during certain delays or cancellations under European regulations, while protections for domestic U.S. flights are generally more limited.

The Takeaway: Ultra-cheap airfare isn't disappearing completely, but finding the lowest fares may take more planning than it did a few years ago. Booking earlier, comparing what's included, and understanding your passenger rights can help you avoid unexpected costs.