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Two other defendants, American Airlines (AAL.O) and Southwest Airlines (LUV.N), previously settled for a respective $45 million and $15 million. Delta and United called their seating capacity reductions a legitimate response to reduced demand, rising fuel prices and the 2008 global financial crisis. Both carriers went through bankruptcy not long before the purported conspiracy began, with United emerging in 2006 and Delta emerging in 2007. United said it was disappointed with the judge's decision, and will seek to have it reconsidered or file an appeal. Payouts will not begin until claims against Delta and United are resolved.

Persons: Doug Parker, Gary Kelly, Scott Kirby, John Laughter, Sara Nelson, Colleen Kollar, Defendants, Kotelly, United, Jonathan Stempel, Grant McCool Organizations: American Airlines Group Inc, Southwest Airlines Co, United Airlines Holdings Inc, Delta Air Lines Inc, Delta Air Lines, United Airlines, Washington , D.C, American Airlines, Southwest Airlines, U.S . Department of Justice, Passengers, United, Delta, Antitrust Litigation, District of Columbia, Thomson Locations: U.S, Washington ,, New York

☆ CPI shows airfares bounced back in August
▼ + stars: | 2023-09-13 | by ( Seema Mody | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCPI shows airfares bounced back in AugustCNBC’s Seema Mody joins 'Power Lunch' to report on the travel numbers in the CPI report.

Persons: airfares, CNBC’s Seema Mody Organizations: CPI

☆ August core inflation, excluding food and energy, rose 0.3%, hotter than expected
▼ + stars: | 2023-09-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

However, excluding volatile food and energy, the core CPI increased 0.3% and 4.3%, respectively, against estimates for 0.2% and 4.3%. Federal Reserve officials focus more on core as it provides a better indication of where inflation is heading over the long term. Inflation posted its biggest monthly increase this year in August as consumers faced higher prices on energy and a variety of other items. Food prices rose 0.2% while shelter costs, which make up about one-third of the CPI weighting, climbed 0.3%. Within shelter, the rent of primary residence index rose 0.5% and increased 7.8% from a year ago.

Persons: Dow Jones, airfares, Lisa Sturtevant, Sturtevant, paychecks, Andrew Hunter Organizations: Federal Reserve, U.S . Department of Labor, Transportation, Bright MLS, Treasury, Labor Department, Capital Economics, Group

☆ Here are 3 trends to watch for in the key August inflation report, according to Goldman Sachs
▼ + stars: | 2023-09-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Goldman Sachs expects August headline CPI to rise 3.58% annually, up from July's 3.2% gain. Strategists wrote Monday they expect to key trends to emerge, including a 3.1% decline in used car prices. CarsThe strategists said used car prices should fall 3.1% in August from July, reflecting lower auction prices. Goldman Sachs estimates used car prices to fall in August. Shelter inflation will remain roughly at its current pace in August, Goldman Sachs says.

Persons: Goldman Sachs, Goldman Organizations: Service, Federal Reserve, Transportation Goldman, CPI Locations: Wall, Silicon

There are so many since wildfires killed 115 people in the historic town of Lahaina that Olsten is worried about a full-blown economic catastrophe. The day after the fire, the Hawaii Tourism Authority, a quasi-state agency, said visitors on “non-essential travel are being asked to leave Maui” and that "non-essential travel to Maui is strongly discouraged." People shouldn't go to Lahaina or the surrounding West Maui area — “It’s not a place to stare," Bissen said — but the rest of Maui needs tourists. The Hawaii Tourism Authority drafted and publicized a map showing Lahaina and West Maui in relation to the rest of the island, highlighting just how much was still open. It's not clear, however, when travel to West Maui will resume.

Persons: — Richie Olsten, Olsten, Mufi Hannemann, ”, Graeme Swain, Mara, Swain, Hali'imaile, —, Gemma Alvior, they’re, “ Maui’s, Richard Bissen, shouldn't, Bissen, Jason Momoa, “, Carl Bonham, It's, Bonham, ___ McAvoy Organizations: Airlines, Maui Helicopters, Air, Pilots, Hawaii Lodging & Tourism Association, University of Hawaii, Hollywood, Hawaii Tourism Authority, ”, Revenues Locations: KAHULUI, Hawaii, Lahaina, State, Maui, South Maui, San Diego, U.S, West Maui, Hollywood, ”, Manoa, Kaanapali, Honolulu

"Further progress is likely to become more difficult as base effects fade, and supply-constraints could drive global energy and food prices higher again." Brent crude prices have risen 27% since mid-year and U.S. crude is up 30%, with U.S. retail pump prices already up almost 10% so far since June. Oil and inflation expectationsReuters GraphicsSLOWING DESCENTAnd alongside creeping worries about rising debt supply, the long end of bond markets has been rattled again by the oil price jump. And this has been a far bigger influence on the inflation trajectory than oil prices per se. Yet, restive crude prices will still cloud a messy and tricky battle with inflation expectations just as policy tightening cycles near an end.

Persons: Brent that's, Christian Keller, Akash Utsav, Andrew Goodwin, there's, George H.W, Jamie Freed Organizations: Brent, UBS, Organization for Economic Cooperation, Development, Barclays, Federal Reserve, European Central Bank, Bank of England, U.S, Treasury, Oxford, Monetary Fund, Reuters Graphics Reuters, Reuters, Thomson Locations: Ukraine, Saudi Arabia, Russia, tailwind, U.S, Europe, Britain, West, George H.W . Bush

☆ Google Flights says the best time to book your flights for Christmas is 71 days before departure
▼ + stars: | 2023-08-29 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

The best time to book your flights for Christmas is around 71 days before your departure, per Google. That's a big change from 2022 when Google said the best time to book Christmas flights was 22 days before departure. AdvertisementAdvertisementThe best time to book your flights for Christmas is around 71 days before the departure day, according to Google's analysis of its historical data of US flights. AdvertisementAdvertisementThese estimates are a big change from the company's recommendations in 2022 when it said the best time to book Christmas flights was 22 days before departure. These experts told the BBC that Google Flights' new methodology for calculating your flight's footprint — introduced in 2022 — excludes many pollutants, meaning only half of a flight's environmental impact is most likely shown.

Organizations: Google, Morning, US Travel Association, World Tourism Organization, BBC Locations: Europe

☆ Opinion | Protecting Competition Is a Vital Goal
▼ + stars: | 2023-08-26 | by ( The Editorial Board | ) www.nytimes.com time to read: +3 min

Compare the United States with Europe, where authorities have more successfully resisted the consolidation of major industries. The economist Thomas Philippon wrote in a 2019 book about the decline of competition in the United States that the American economy would be roughly $1 trillion larger than it is today if the United States had simply maintained the level of competition that prevailed in 2000. The turn toward stringency reflects some of what has been learned in recent years about the effects of corporate concentration, for example, in a new emphasis on protecting workers. The guidelines treat the economic analysis of corporate concentration as a valuable source of information, rather than the measuring stick by which decisions are made. Mr. Kanter said his department is focused on protecting competition because that is the goal that Congress enshrined in law and he is in the law enforcement business.

Persons: Thomas Philippon, Jonathan Kanter, Lina Khan, Kanter, “ We’re, ” Organizations: Amazon, European Union, Antitrust, Federal Trade Commission, Microsoft, Activision Blizzard Locations: United States, Europe

But that can take time, analysts say, since airlines must manually override automated systems that raise fares in the case of higher demand. Here is a look at how airlines deal with a sudden surge in demand on a particular route. DISASTERS VERSUS HIGH DEMANDAirlines set a range of ticket prices based on factors like purchase timing and demand. They then allocate seats to each fare, explained Chris Amenechi, founder of startup SeatCash, which offers subscribers a product that predicts future flight prices. Travel site Expedia Group (EXPE.O) said air partners set flight prices and availability on its site.

Persons: Chris Helgren, Chris Amenechi, ”, Amenechi, Robert Mann, Mann, Allison Lampert, Doyinsola, Denny Thomas, Josie Kao Organizations: REUTERS, Air Canada, HIGH, CAP, Air, Expedia, Airlines, WestJet Airlines, U.S, Amtrak, Thomson Locations: Okanagan, West Kelowna, British Columbia, Canada, Yellowknife, Air Canada, Calgary, Maui, Honolulu, U.S, Washington, New York

☆ High services costs make UK rate-cutting laggard
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

Governor of the Bank of England Andrew Bailey speaks as he attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Britain, August 3, 2023. Alastair Grant/Pool via REUTERS Acquire Licensing RightsLONDON, Aug 16 (Reuters Breakingviews) - UK inflation is slowing, according to many metrics. Unfortunately, those are not the ones the Bank of England values the most. Prices in that category grew 7.4% in July, faster than June’s 7.2%, due to more expensive restaurants, hotels and airfares. Policymakers keep a close eye on services’ prices and wage growth, which hit a record in the three months to June.

Persons: Bank of England Andrew Bailey, Alastair Grant, Andrew Bailey, Bailey, Francesco Guerrera, Exor’s Philips, Bain, Neil Unmack, Streisand Neto Organizations: Bank of England, Monetary, REUTERS Acquire, Reuters, Bank of, Office, National Statistics . Services, European Central Bank, U.S . Federal Reserve, Twitter, FC Barcelona’s, Messi, Thomson Locations: London, Britain, Bank of England, June’s

☆ Domestic airlines are getting crushed because everyone wants to escape to Europe
▼ + stars: | 2023-08-10 | by ( Hannah Towey | Taylor Rains | ) www.businessinsider.com time to read: +5 min

International travel demand is outpacing domestic demand as Americans flock to Europe in 2023. Our international wanderlust may be a worrying trend for domestic airlines — but it makes now the perfect time to buy flights for fall and winter vacations within the US. Low-cost carriers Spirit Airlines , Frontier Airlines , and JetBlue Airways had similar outlooks. Redburn analyst James Goodall said Monday that domestic airlines are likely to feel this pressure for not just months, but years, Barron's reported . Frontier AirlinesAs domestic airlines take a hit, consumers could reap the benefits with cheap fares and fall promotions designed to stimulate demand.

Persons: you've, Hopper, Sonia Bhagwan, they've, Barry Biffle, James Goodall, Barron's, Goodall, — Hopper, Bhagwan, she's, airfare Organizations: Carriers, JetBlue, Bank of America, American Airlines, Delta Air Lines, United Airlines, —, Atlantic, Southwest Airlines, Spirit Airlines, Frontier Airlines, JetBlue Airways, CNBC, Airlines, Southwest, Bloomberg, nab Locations: Europe, Greece, heatwaves, Spain, Italy, Asia, COVID, United, Delta, Texas, Mexico, Caribbean, Paris

☆ July Inflation Report Price Pressures Expected to Pick Up Slightly
▼ + stars: | 2023-08-10 | by ( Jeanna Smialek | Neal Boudette | ) www.nytimes.com time to read: +3 min

Instead, Wall Street analysts and policymakers at the Federal Reserve will scrutinize the “core” inflation measure that strips out food and fuel prices, which can be volatile. When it comes to the monthly change in core inflation, the news could be a lot more encouraging. If that pans out, it would make for the lowest back-to-back core inflation readings since early 2021. Still, the inflation report could be more difficult for the Biden administration to brag about than the last few reports, which showed across-the-board cooling. “Core inflation pressures are cooling down,” she said.

Persons: Biden, “, ”, Laura Rosner, Warburton, ” Carl Riccadonna Organizations: Inflation, Wall Street, Federal Reserve

☆ CPI: Consumer prices rose by 3.2% annually in July, picking up for the first time in 13 months
▼ + stars: | 2023-08-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —For the first time in more than 12 months, the pace of consumer price hikes accelerated on an annual basis. The Consumer Price Index rose 3.2% for the year through July, up from June’s 3% annual increase, according to data released Thursday by the Bureau of Labor Statistics. Core CPI, which excludes the more volatile food and energy prices, increased 0.2% from June and was up 4.7% from the year-ago period. July is the the fourth consecutive month that annual core CPI has eased, and the 4.7% rate landed 0.1 percentage points below consensus expectations. Shelter prices rose 0.4% month on month and were up 7.7% for the year ending in July.

Persons: “ Don’t, ”, Julia Pollak, Joe Biden, ” Biden, “ We’ve, Kurt Rankin, Dow, “, Joe Brusuelas, Brusuelas, Tamara Charm, Brandon Bell, Danielle DiMartino Booth, DiMartino Booth, — CNN’s Elisabeth Buchwald Organizations: Minneapolis CNN —, Bureau of Labor Statistics, BLS, CPI, Federal Reserve, PNC, Nasdaq, RSM US, CNN, San, Services, “, McKinsey, Quill Intelligence, Federal Reserve Bank of Dallas Locations: Minneapolis, June’s, San Francisco, Austin , Texas

Factors such as cheaper airfares and weaker currencies in Scandinavia could play a role, but one of the world's biggest tour operators TUI (TUI1n.DE) said on Wednesday that climate change will also drive more tourists northbound. Tour operators in places like northern Norway also see an increased demand. This had resulted in more direct flight routes to Northern Norway being created, it said. Heather Storgaard, a Scottish tourist, planned her summer vacation this year in Denmark, with a stop in Northern Germany. Wissenbach is often in Italy due to work but said she preferred the north for holidays.

Persons: Sebastian Ebel, Ebel, TUI, Fabio Scaglione, Diego Bruno, Bruno, Heather Storgaard, we'd, Margit Wissenbach, Joanna Plucinska, Marie Mannes, Rachel More, Alberto Chiumento, Mark Potter, William Maclean Organizations: Mastercard, TUI's, Stockholm, Thomson Locations: Europe, Denmark, Finland, Netherlands, Norway, Sweden, Scandinavia, Poland, Belgium, Greece, Rhodes, Northern Norway, Turin, Italy, Italian, Spain, Scottish, Northern Germany, France, Germany, Switzerland, Gothenburg, Wissenbach

☆ Gloomy Spirit, Expedia reports drag travel stocks lower on demand slowdown fears
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

A Spirit Airlines jet taxis from Newark Liberty International Airport in Newark, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren/File PhotoAug 3 (Reuters) - U.S. travel stocks fell in early trading on Thursday following downbeat quarterly reports from Spirit Airlines (SAVE.N) and Expedia (EXPE.O) that amplified concerns domestic demand may be easing after a strong rebound from pandemic lows. Spirit, which mainly operates on domestic routes, also forecast weaker-than-expected revenue for the third quarter, with Citi analysts citing the effect from travel demand shifting to international from domestic. Adding to the gloom, online travel firm Expedia Inc (EXPE.O) reported smaller-than-expected bookings for the second quarter, even as it said travel demand remained "strong." "We believe this is further evidence of softening in U.S. travel demand trends while international growth continues to outperform," Wedbush analyst Scott Devitt said in a note.

Persons: Chris Helgren, Gross, Scott Devitt, airfares, Priyamvada, Kannaki, Pratyush Thakur, Sriraj Organizations: Spirit Airlines, Newark Liberty International Airport, REUTERS, Citi, Southwest Airlines, Alaska Air, Delta Air Lines, United Airlines, American Airlines, Expedia Inc, Thomson Locations: Newark , New Jersey, U.S, Southwest, Bengaluru

☆ 6 things that actually cost less than last year, despite inflation
▼ + stars: | 2023-07-26 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

Following a slowdown in oil production due to the pandemic, consumer demand for gas soared in 2021. Coupled with the Russian invasion of Ukraine that limited oil supply, average prices for regular gas reached record highs of $5.02 in June 2022. However, with U.S. oil production on the rebound, average prices for regular gas have since fallen to $3.69 per gallon, based on American Automobile Association data. Despite rising inflation for most other items, television prices have been trending down for the last two years. Before the pandemic, the average cost for a dozen eggs was closer to $1.50.

Organizations: American Automobile Association, Yahoo Finance, P, U.S . Labor Locations: Ukraine, U.S

☆ Lawmakers are trying to pass a bill that will make flying better — but it doesn't address the problems that make skiplagging so appealing
▼ + stars: | 2023-07-21 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

The House on Thursday passed a bill meant to improve air travel. But the bill doesn't address the confusing pricing models that lead to skiplagging. After airline delays and cancellations caused travel chaos this winter, the bill seeks to address some of the contributing issues. Lawmakers from both parties have said the bill will make air travel safer and more efficient. Not knowing what's the best, or cheapest, time to book a flight is one of the more annoying aspects of air travel.

Organizations: Service, American Airlines, Federal Aviation Administration, Democratic Locations: Wall, Silicon

☆ American Airlines raises 2023 profit forecast after strong second quarter
▼ + stars: | 2023-07-20 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023. American Airlines on Thursday raised its earnings outlook for 2023 after a strong start to the peak travel season, the latest airline to reap the rewards from the continued boom in demand. That updated 2023 profit guidance falls in line with Wall Street expectations of $3.10, according to Refinitiv consensus estimates. For the third quarter, American expects to earn an adjusted 85 cents to 95 cents per share, in line with estimates. Adjusting for one-time items, including costs associated with planes retired early in the pandemic, the company earned $1.37 billion, or $1.92 per share.

Persons: Robert Isom, CNBC's Phil LeBeau Organizations: Boeing, American Airlines, Airline, United, Refinitiv Locations: Barcelona, Fort Worth - Texas

☆ US airlines see no letup in travel demand despite broader economic concerns
▼ + stars: | 2023-07-20 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

CHICAGO, July 20 (Reuters) - A rush among travelers to make up for lost time during the pandemic is producing bumper airline earnings. United Airlines (UAL.O) and Delta Air Lines (DAL.N) have also raised their earnings estimates as consumers cut spending on goods in favor of experiences. "It's indicative of our belief that the economy is strong, demand is strong," American CEO Robert Isom said on an earnings call. Strong demand has bolstered airfares, allowing carriers to offset higher costs. They point to frequent upgrades to airline earnings forecasts as an evidence of strong travel spending.

Persons: Robert Isom, Scott Kirby, Rajesh Kumar Singh, Nick Zieminski Organizations: U.S, American Airlines, United Airlines, Delta Air Lines, U.S . Transportation, Airline, Thomson Locations: Texas, U.S, Europe

Like many, they home in on the outsized drop in used-car prices - one of the key aggravators of 'core' inflation that at 4.8% is still well above the now sub-3% headline CPI rate. Pointing to four straight months of ebbing 'trimmed mean' inflation measures of core inflation - which strip out high and low outliers - the Morgan Stanley team doubt June was a bum steer and see core disinflation more "a trend rather than a headfake". Inflation surprisesFed estimates of R* natural interest rateReuters Graphics Reuters GraphicsR-STAR GAZINGOthers doubt the optimism, of course. And it's the latter that homes in on the prospect of an inflation undershoot. Further Fed tightening after this month, then, could well see markets start to consider inflation actually undershooting 2% targets after all - but dragging recession back onto the dashboard to boot.

Persons: it's, Morgan Stanley, Christopher Waller, Guneet Dhingra, Allen Liu, Janet Yellen jived, Mike Dolan Organizations: Federal Reserve, Reuters, Barclays, Global, Bank of America, Treasury, Twitter, Thomson Locations: Ukraine, Intriguingly

☆ Are Cruises ‘Corny’? Some First-Time Passengers Looking for a Deal Say Maybe Not.
▼ + stars: | 2023-07-18 | by ( Ceylan Yeginsu | More About Ceylan Yeginsu | ) www.nytimes.com time to read: +1 min

It wasn’t just the horror stories about passengers stuck on cruise ships during the pandemic (though that was part of it). “I always thought of cruises as corny vacations for the elderly,” said Mr. Brown, 32, a member of the logistics team at the New York streetwear company Supreme. “You get to see all these different places and can take day trips without having to lug your baggage around,” Mr. Brown said. Out of the 4,500 respondents who took their first cruise, 88 percent of millennials and 86 percent of Gen X said they would do it again, according to CLIA. The association projects cruise tourism to reach 106 percent of 2019 passenger volume in 2023.

Persons: Holden Brown, “, ”, Brown, Genevieve, ” Mr, Gen X Organizations: Norwegian Prima, Cruise Lines International Association Locations: York, Norwegian, Barcelona, Rome, Florence, Italy, Valencia, Ibiza, Spain, Cannes, France, millennials

☆ Jerome Powell’s Prized Labor Market Is Back. Can He Keep It?
▼ + stars: | 2023-07-17 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +1 min

But now a tantalizing possibility is emerging: Can America both tame inflation and keep its labor market gains? Data last week showed that price increases are beginning to moderate in earnest, and that trend is expected to continue in the months ahead. Housing costs are slowing in inflation measures, something that economists have expected for months and that they widely predict will continue. New and used car prices are cooling as demand wanes and inventories on dealer lots improve, allowing goods prices to moderate. And even services inflation has cooled somewhat, though some of that owed to a slowdown in airfares that may look less significant in coming months.

Persons: —, ”, Julia Pollak Organizations: ZipRecruiter Locations: America, Powell’s

☆ Smart ways to save money in Europe this crazy, crowded summer
▼ + stars: | 2023-07-15 | by ( Terry Ward | ) edition.cnn.com time to read: +12 min

“Last-minute flight prices, especially international ones, are expensive,” says Katy Nastro of Going.com (formerly Scott’s Cheap Flights) about airfares from North American to Europe. “Their best value comes when cash prices are high, and there’s no time more expensive than last-minute summer travel,” Nastro says. CNN Travel talked to travel agents, experts and expert travelers, too, for their tips on saving money on European travels this unprecedented summer. “Most travelers going to Europe have a few destinations in mind, “ says Henley Vazquez, co-founder of luxury travel advisor group Fora. These places he calls “the Chicagos of Europe” include Marseille in France, Hamburg in Germany and Liverpool in England.

Persons: CNN —, “, Katy Nastro, you’ll, Nastro, you’ve, ” Nastro, Hevelyn Villar Silva, Hevelyn Villar, ”, Colleen McDaniel, Henley Vazquez, Fora, ” Eurail, Eurail, Ethan Williams, Austria’s, Georgia Bird, Rome Ciampino, Rome Fiumicino, snagging, Ignacio Eguren, ” Eguren, Eguren, Booking.com, aren’t, Rick Steves, ” Steves, Steves, … Organizations: CNN, Cruise, Magnifica, MSC Cruises, MSC Magnifica, Caribbean’s Symphony, Palma de Mallorca, Milan Central Station, Getty, Czech Railways, Saint, Alamy, “, Smart, Library, Rembrandt, Best, Premier Faubourg, CNN Travel, Liverpool, Scala, Scala Santa Holy, Scotsman Locations: Europe, North American, ”, Tampa , Florida, Genoa, Valencia, Spain, Pisa, Portofino, Italy, France, Palma de, Athens, Svalbard, Bergen, Norway, “, Germany, Czech, Czech Republic, Rome, Saint Martin, Paris, mauritius, Checkin Cantabria, Cantabria, Paris ’, Copenhagen, you’ll, Oslo, Marseille, Hamburg, England, Scala Santa

☆ 'Skiplagging' to save money on plane tickets is only possible because airlines are breaking one of the basic laws of geometry
▼ + stars: | 2023-07-13 | by ( Andy Kiersz | Taylor Rains | ) www.businessinsider.com time to read: +4 min

That means buying cheaper tickets with a layover in their actual destination city instead of a direct flight. This only works because air fares violate the "triangle inequality," one of the basic laws of geometry. One of the most basic laws of geometry is something called the "triangle inequality." But that clearly is not always the case, and that violation of the triangle inequality is what makes skiplagging possible. If airlines want to fight skiplagging, a good first start would be making airfares into a geometrically-accurate metric.

Persons: skiplagging, Brian Hayes Organizations: Flyers Locations: layover, New York, Amsterdam, London

☆ Airfare is cooling as carriers add service for summer peak period
▼ + stars: | 2023-07-13 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Flights are getting cheaper as airlines ramp up service during what's shaping up to be a busy summer. Delta Air Lines on Thursday reported record earnings for the second quarter, estimated more record revenue through the start of fall and hiked its full-year forecast. Delta's domestic revenue unit revenues fell 1% in the quarter from the same period of 2019, but trans-Atlantic unit revenues rose 22% and the smaller trans-Pacific segment rose 29% and Latin American service unit revenues were up 16%. Airlines have been especially aggressive in adding record amounts of service to Europe this summer and higher unit revenues are showing that fares there continue to hold up. United Airlines and American Airlines will provide their outlooks on demand next week when they're scheduled to report results.

Persons: airfares Organizations: National Airport, Transportation Security Administration, Air Lines, Airlines, United Airlines, American Airlines Locations: Arlington , Virginia, Europe

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