Would you gamble on airfare? Vegas-based Allegiant thinks you might

Vegas is known for, probably above all else, its draw of gambling everywhere.

Most folks heading to the spot of glitter in the desert set aside funds for having a go at the tables or the slots. But would you feel comfortable gambling before you even get there? Like, on the price of your flight? Las Vegas-based carrier Allegiant has proposed an interesting solution to the effects of rising gas prices on airfare, on that will carry into play your ability to gauge a spike in fuel prices in time- and luck.

Here’s how it would work, essentially- you could pay a lower fare for a fare that can vary based on the cost of fuel, or you could pay a higher price for a fixed-fare ticket. If your bet pays off, you might see significant savings over what you pay today for a ticket. But if the price of gas (heaven forbid) goes above the current cost of over $100 a barrel, you could be over a barrel. Allegiant chairman Maurice Gallagher explains:

“To the extent post-purchase price increases are prohibited, carriers are forced to bear all risk of fuel-price volatility and resulting large cost increases, particularly on tickets purchased far in advance… If consumers wish to lock in a price, they would be free to do so. Others who wish to purchase at a lower rate and key their ticket price, in part, to fuel price at the time of travel would also be free to do so.

“This would provide consumers the ability to receive additional savings in the event the fuel price dropped — as could very well be the case for consumers purchasing when fuel prices were high — and would provide carriers some measure of protection against unpredictable increases. In Allegiant’s view, fundamental fairness dictates that both parties to a travel transaction have available a measure of protection.”

Sound fair to you? Would you purchase a ticket and test your luck, or shell out the higher cost initially for peace of mind?

[Las Vegas Sun, Image]