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.