As the price of jet fuel rises, airline CEOs expect airfare to rise as well. Jet fuel prices have doubled since the beginning of the year, and it is the second biggest expense for airlines.
Flight cancellations and delays continued to plague travelers at LAX Friday, which is expected to be one of the busiest days of the holiday season.
Dozens of flights at LAX were canceled ahead of what's expected to be a "once in a generation" winter storm that's likely to impact every airport in every state.
Key US airlines have issued travel waivers ahead of what's forecast to be a brutal "bomb cyclone" of wintry weather in the Midwest and other regions later this week.
Under federal law, airlines that cancel flights are required to give cash payouts to customers if they decide not to travel, experts say.
The DOT is also issuing $7.25 million in fines against six airlines for the "extreme delays in providing those refunds to passengers," Transportation Secretary Pete Buttigieg said on a call with reporters.