miles otoole
Well-known member
- Joined
- May 7, 2004
- Posts
- 948
http://today.reuters.com/news/articleinvesting.aspx?type=comktNews&storyid=URI:2006-08-21T145624Z_01_N21477426_RTRIDST_0_AIRLINES-UAL-FARES-UPDATE-1.XML&rpc=11
CHICAGO, Aug 21 (Reuters) - UAL Corp. (UAUA.O: Quote, Profile, Research), parent of United Airlines, on Monday said it withdrew a business fare increase it initiated last week.
The parent of the No. 2 U.S. carrier had raised fares by $5 for one-way trips and $10 for round trips. The increase had applied to United's first-class seats and to seats booked seven or fewer days ahead of flights.
A UAL spokeswoman did not offer a reason for the airline's withdrawal of the fare increase.
AMR Corp. (AMR.N: Quote, Profile, Research), parent of American Airlines, said on Monday that it had matched UAL's increase, but rescinded it on Saturday. Northwest Airlines Corp. (NWACQ.PK: Quote, Profile, Research) said it did not match the increase.
U.S. airlines, battered by low-cost competition, have initiated several lasting fare hikes lately, offsetting soaring fuel prices and bolstering revenue. For a fare hike to last, it generally must be matched by competitors.
Shares of UAL were down 3.62 percent at $23.98 on Nasdaq.
CHICAGO, Aug 21 (Reuters) - UAL Corp. (UAUA.O: Quote, Profile, Research), parent of United Airlines, on Monday said it withdrew a business fare increase it initiated last week.
The parent of the No. 2 U.S. carrier had raised fares by $5 for one-way trips and $10 for round trips. The increase had applied to United's first-class seats and to seats booked seven or fewer days ahead of flights.
A UAL spokeswoman did not offer a reason for the airline's withdrawal of the fare increase.
AMR Corp. (AMR.N: Quote, Profile, Research), parent of American Airlines, said on Monday that it had matched UAL's increase, but rescinded it on Saturday. Northwest Airlines Corp. (NWACQ.PK: Quote, Profile, Research) said it did not match the increase.
U.S. airlines, battered by low-cost competition, have initiated several lasting fare hikes lately, offsetting soaring fuel prices and bolstering revenue. For a fare hike to last, it generally must be matched by competitors.
Shares of UAL were down 3.62 percent at $23.98 on Nasdaq.
