Delta Raising Fare Cap $100

ATLANTA — Delta Air Lines Inc., the nation’s third largest airline, said today it is raising the cap on its most expensive fares by $100 because of persistently high fuel costs.

The move comes six months after it announced a ticket price overhaul designed to draw in more business travelers. Its shares surged more than 11 percent.

The Atlanta-based airline said that, effective immediately, one- way walk-up fares are capped at $599, up from $499, for economy class and at $699 for first class. Delta said it will continue to offer the fares without a Saturday-night stay-over requirement. It also is keeping its reduction of most special service fees to $50 and 1,000 bonus miles for tickets purchased online.

The cap adjustment affects only full-fare walk-up and some three- day advance purchases.

Delta and its Comair subsidiary carry nearly 90 percent of traffic at Cincinnati/Northern Kentucky International Airport, Delta’s second-largest hub.

Delta has been cutting costs to avoid bankruptcy, but high fuel costs have caused its losses to mount.