Higher fuel costs push Southwest to boost fares
From Bloomberg News
Low-fare leader Southwest Airlines Co. boosted the price of one-way tickets by as much as $10 to blunt higher fuel costs.
The increase is $3 on trips of 750 to 1,000 miles and $10 on longer flights, Southwest said.
UAL Corp.’s United Airlines, Continental Airlines Inc., Northwest Airlines Corp. and US Airways Group Inc. matched the fares.
Southwest is working to offset $600 million in increased fuel spending in 2006 as its protection against higher prices fades. The Dallas-based carrier has used futures contracts to buy much of its jet fuel for less than the spot-market price in recent years.
