Domestic Airfares on the Rise Again - Newschannel 6 Now | Wichita Falls, TX

Domestic Airfares on the Rise Again

DALLAS (AP) - Airfares at major U.S. airlines are climbing again, continuing a dizzying pace of nearly weekly increases. This time the fare hike is intended to cover higher jet fuel prices.

It's boom time for the airline industry. Rising fares, combined with fewer flights and more fees for passengers, are generating the best earnings since 2007. The government estimates the country's eight largest airlines are likely to earn more than $5 billion this year and $5.6 billion in 2012.

US Airways says if the current trend toward higher revenue continues, it will be able to cover foreseeable increases in fuel costs.

But some analysts think if prices go any higher, leisure travelers , and maybe some corporate fliers, will just stay home. FareCompare.com. says none of the low-cost airlines have raised prices ,yet.

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