Although most airlines only have three classes of service -- economy, business and first class -- a carrier can choose to categorise its fare prices with almost every letter of the alphabet. Airlines categorise tickets in many different fare classes with different costs, restrictions and frequent flyer earnings to maximise their potential for selling tickets and taking off with a full flight. Understanding ticket classes, including "V" class, will help you make a more informed choice next time you are buying an airline ticket.
Fare class "V" tickets are always a subclass of economy tickets. "V" class ticket holders will sit in the coach class cabin of the aircraft but are not limited to any specific seats. You can book a seat in the first row of the cabin, in an exit row or in the very last row. Although fare codes vary throughout the coach cabin, all passengers with coach tickets are treated the same when on board the aircraft.
While airlines differ in their hierarchy of letters for coach class fares, "V" class usually falls on the lower third of the fare spectrum, making it a highly discounted fare class. The discounts available with "V" class tickets, as with other deeply discounted fare categories, will be available to passengers who book early.
Discounts also come with restrictions, though. On many airlines, "V" class tickets are non-refundable and non-transferable. However, on some airlines you are allowed to upgrade with a "V" class ticket. At the very least, you will pay a fee for changing the date or time of your flight, and at the most you will not be able to change the flight at all. Check with your airline and read the fine print before booking your ticket online to find out what restrictions a "V" class fare incurs on the airline you are flying.
Frequent Flyer Miles
"V" class tickets, like most other economy tickets, usually award travellers with 100% of the miles travelled added to their frequent flyer mileage. Business and first class fares can award anywhere from 125% to 200% of miles travelled. Unless your "V" class ticket is the most discounted fare for the airline, which it usually is not, you will probably get 100% of your journey's miles credited to your frequent flyer account. Again, check the rules and restrictions before booking the ticket.