US Airlines Raise Fares to Offset Fuel Prices
US Airlines Raise Fares to Offset Fuel
Prices
Major US airlines have raised rates over the last few weeks to compensate for steadily rising fuel prices, affecting both casual vacationers and corporate accounts alike. Jet fuel costs are now over $3 per gallon, the second highest level on record, behind only 2008, when oil prices surged to record levels and the airlines lost billions.
US Airways said earlier this week that if current revenue trends continue, it will be able to absorb further surges in fuel costs expected over the next several months without raising fares yet again. Delta Air Lines initiated the latest fare hike last month when it raised fares for domestic round-trip flights purchased on short notice by $20. American Airlines followed suit with a $10 increase, but applied it to almost all domestic flights within the continental US.
As of Friday morning, United, Continental, and US Airways had followed American's lead by raising US fares across the board by $10, and Delta had revised its fare hike to match. The discount airlines, meanwhile, such as Southwest, Jet Blue, and AirTran, have so far declined to raise fares. Insiders say that if those airlines continue to absorb fuel increases, the major carriers may be forced to scale back fare hikes on some flights.
Major US airlines have raised rates over the last few weeks to compensate for steadily rising fuel prices, affecting both casual vacationers and corporate accounts alike. Jet fuel costs are now over $3 per gallon, the second highest level on record, behind only 2008, when oil prices surged to record levels and the airlines lost billions.
US Airways said earlier this week that if current revenue trends continue, it will be able to absorb further surges in fuel costs expected over the next several months without raising fares yet again. Delta Air Lines initiated the latest fare hike last month when it raised fares for domestic round-trip flights purchased on short notice by $20. American Airlines followed suit with a $10 increase, but applied it to almost all domestic flights within the continental US.
As of Friday morning, United, Continental, and US Airways had followed American's lead by raising US fares across the board by $10, and Delta had revised its fare hike to match. The discount airlines, meanwhile, such as Southwest, Jet Blue, and AirTran, have so far declined to raise fares. Insiders say that if those airlines continue to absorb fuel increases, the major carriers may be forced to scale back fare hikes on some flights.
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