As if the skyrocketing cost of driving a car isn’t bad enough, another form of transportation is about to see a major price hike. Now that people have taken to the skies again, major U.S. airlines are jacking up ticket prices by as much as 10 percent, airline reps said Tuesday at a JPMorgan investor conference. Among them was Delta president Glen Hauenstein, who blames the hike on rising fuel costs. “We’re seeing an increase in demand that is really unprecedented,” Hauenstein says. “It’s really been the strong demand and better pricing environment [that has] allowed us to more than offset the fuel cost.”
The cost of airline fuel is expected to rise between 17 percent and 33 percent before the current quarter is over, reps from the airlines said.
Will this increase affect your travel?