Business Services Industry
Airline Industry's First Real Try to Raise Fares Fails.
Knight Ridder/Tribune Business News, April, 2002
By Dan Reed, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Apr. 16--Though the nation's airlines likely lost more than $2 billion in the first quarter alone, the industry's first real attempt to raise fares this year failed.
Carriers that implemented a $20 across-the-board fare hike on advance purchase fares late last week for leisure travel moved Sunday and Monday to rescind the increases in all but a handful of markets.
"With the fare hike pulled back, a family of four could save $80 roundtrip on their summer travel," said Tom Parsons, editor and publisher of Arlington-based Bestfares.com and Best Fares discount travel magazine.
But the rollback of fare prices means the airlines will lose "a potential $20...
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