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For many travelers, this will be a good summer to head across the Atlantic. The pound is recovering ground against the dollar, and because airlines are under huge financial pressure, they are having to generate much-needed revenue by cutting fares spectacularly. In the past few weeks we have seen return flights to New York for under £200 – lower than they have been in summer for more than 30 years.

For departures during the peak school holiday weeks in late July and most of August, the situation is not quite so rosy. The cheapest return to New York on a direct flight then will set you back about £500. However, there is little logic to air fares from the customer’s point of view, and you can currently book tickets on the much longer flights to Los Angeles or San Francisco for considerably less than this, or you could wait until late August and save hundreds of pounds.