Quantcast


Last updated: February 16. 2013 5:59PM - 79 Views

Story Tools:

Font Size:

Social Media:

(AP) U.S. airline stocks are gaining steam Monday following a successful attempt to raise fares to cover the rising cost of fuel.


Southwest Airlines Co. raised fares on short routes by $10 per round trip, and several large airlines quickly matched the increase. Southwest carries a lot of influence in fare sales because it carries more passengers within the U.S. than anyone. Many attempts to raise prices don't stick because Southwest doesn't play along.


JP Morgan analyst Jaime Baker expects the airlines to keep trying because fuel costs are going up. Also, reductions in flying are giving the airlines more of an upper hand to raise fares because there are fewer available seats to match demand.


In afternoon trading, Southwest shares are up 3.3 percent, or 30 cents, to $9.43.


Associated Press
Comments
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com