Released: August 04, 2008

Fares so high, only rich can fly?

Source: Gary Stoller, USA Today

Deregulation of the airline industry 30 years ago made air travel affordable to most Americans. Rising airfares threaten to again make flying a service for the affluent.

Airfares have risen this summer more than any year in the past quarter century, new studies by airfare experts show. The studies, done by Travelocity, FareCompare.com and Harrell Associates at USA Today’s request, show that domestic fares this summer are up 12% to 15%, and on some routes, more than 200%.

“Consumers are already shell-shocked by higher prices, but their wallets are going to be hit harder than ever before on their next vacation or business trip,” says Rick Seaney, CEO of FareCompare.com, which tracks airfares for consumers.

Read Full Article: Fares so high, only rich can fly?