The Arizona Republic reported this morning that American Airlines(AA) is raising base fares $10 roundtrip on US flights. In fact, according to Republic, Farecompare.com reports that this is the seventh time the airline has raised fares since the start of 2011. Unbelievable considering it is only the beginning of March. This also includes Hawaii, which now show a fare increase of $21.
The rising fare alert, which was issued by Farecompare.com, attributes the rising fees to the price of gas. Currently the price of oil is just over $100/barrel. As quoted by the Republic the CEO of Farecompare.com, Rick Seaney said, “If history repeats itself we should see weekly hike attempts of at least $10 roundtrip through the end of April as we did in 2008 where oil closed at $115 per barrel that month.” In 2008, we also saw the same type of fare increase at this time of the year.
According to The Associated Press, while AA confirmed the increase, no other airline has increased their base fares. It will be interesting to see if the other big airlines will follow suit. Although, according to the article, it is likely.
Will the rising fares cause you to change your travel/flight plans for the coming months?
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