While scheduled flights leave at regular intervals with tickets being purchased up to the day of departure by the general public, a charter flight is usually booked far in advance as part of a private travel package.

Most charters are filled by tour companies, booking the charter flight as part of a package deal which includes accommodation, rentals, and other activities for an entire vacation. These tour companies charter an airplane for a specific day and route, and sell the seats themselves. Occasionally businesses, schools, or organizations will book a charter flight to receive a better rate from the airline.

While in the past a charter flight could only be secured through a tour company, in recent years charter airlines have opened up their ticket sales to the general public. Because of the discounted rate, a charter flight must constantly strive for maximum occupancy, more so than traditional scheduled airlines. There is some general belief that service on a charter flight might be of a lesser quality than standard flight service, though this is by no means absolute.

When purchasing a charter flight one can receive some amazing deals by buying independently, and waiting until the departure day is very near. This strategy requires a great deal of flexibility in scheduling, but the ticket price can be well below cost for the airline. While scheduled airlines can charge a premium price for tickets purchased a few days before departure, secure in the knowledge that seats will continue to fill to the last minute, charter airlines are faced with the opposite situation. Most people purchasing charter tickets buy well in advance. With a slimmer profit margin, as the departure date nears, the charter flight will scramble to fill empty seats, offering drastically discounted fares.

A charter flight usually has much stricter penalties than comparable scheduled flights, often with little or no refund on cancellations. Many charter airlines mitigate this by allowing you to transfer your ticket to another person for a small penalty.

Because of the small profit margins and relatively small size of most charter airlines, some charter airlines might have reduced financial stability when compared to major airlines. There have been a number of extreme examples in recent years of airlines going bankrupt and leaving those who bought charter tickets without recourse; in some cases even failing to inform their customers. Additionally, tour operators or the airline may choose to cancel a charter flight up to ten days before departure for any reason, most often because they have failed to adequately fill the flight.

Though there can be downsides to choosing a charter flight over more traditional scheduled flights, the savings can be worth it. Be sure to carefully weigh all the pros and cons before you commit to purchasing, and look into the airline you choose to make sure they have a good safety record and adequate customer satisfaction.