Airlines Need to Hike Fares to Break Even, Says Delta Chief
Posted on: Friday, 25 April 2008, 06:00 CDT
Domestic airlines in the US can break even only if they hike their prices by 15 to 20%, reported the Associated Press, quoting Delta Air Lines's CEO Richard Anderson.
Mr Anderson said that the fares should reflect the rising fuel costs. The US-based airlines have raised the fares nine times since December 2007, according to BestFares.com. However, only Southwest Airlines could manage to post a profit among large carriers.
American Airlines, Continental Airlines, and United Airlines have all reported a loss in the first quarter of 2008 due to rising fuel costs.
Source: Datamonitor
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