Major U.S. airlines are raising fares to cover higher jet fuel prices, and the strategy seems to be working. US Airways said Thursday that if the trend toward higher revenue continues, it will be able to cover foreseeable increases in fuel costs.
This is the sixth fare increase this year. Jet fuel prices are over $3 a gallon, the second-highest reading in March behind only 2008, when oil prices surged to record levels and U.S. airlines lost billions of dollars.
American Airlines raised fares on flights in the US by $10 per round trip. Delta Airlines boosted fares even higher, up to $20 per round trip, depending on the flight length. United, Continental and US Airways matched American Airlines' increase.
None of the low-cost airlines - including Southwest, JetBlue and AirTran - had raised prices, according to Rick Seaney, CEO of FareCompare.com. If they continue to hold out, he said, Delta and the other big airlines could be forced to scale back their increases on some routes.
The Associated Press contributed to this story