AMR Corp.'s American Airlines, UAL Corp.'s United Airlines and Delta Air Lines Inc. raised fares in the U.S. by up to $60 as the airline industry continues to struggle with soaring oil jet-fuel costs.
The three airlines said that fares on shorter flights where discount carriers compete will rise by $10 round trip, while the biggest increase will apply to its longest routes.
We are bleeding here, said American Airlines spokesman Ned Raynolds according to Reuters.
It's a survival battle at this point. We are the only major carrier never to have been in bankruptcy and we want to keep it that way.
This is the 16th attempted fare increase this year, according to Rick Seaney of ticket-research firm FareCompare.com.
As oil prices continue to soar this week, jet fuel costs were boosted 2.3 percent and 86 percent in the past 12 months.
The bottom line is they have to pass on the cost of fuel to consumers, said Seaney.
As a result, seven small airlines have filed for bankruptcy or stopped operating in the past five months and analysts say that if oil prices continue to rise, some major airlines also face the prospect of bankruptcy.
AMR, the world's biggest carrier, also said this week that it will start charging some customers