Airlines boosting prices, fare tracker says
U.S. airlines are ringing in the new year with higher ticket prices, according to one airfare tracker.
Delta Air Lines Inc
A Delta spokesman confirmed the report of the carrier's price increase. FareCompare.com called the move the first domestic airfare increase attempt for 2012.
Airlines have boosted fares and are looking for new revenue sources as higher oil prices raise costs and threaten profitability.
Oil prices rebounded on Thursday as the euro rallied and a Nigerian union threatened to shut down output, and U.S. February crude oil was up 1 percent to $102.07 a barrel after hitting a session high of $102.98.
U.S. carriers have also raised ticket prices on flights to Europe in the wake of a disputed European law requiring airlines to pay for aircraft emissions.
American Airlines
Shares of the major U.S. carriers mostly edged up, with Delta up about 1.5 percent at $8.74, United Continental up about 1 percent at $18.19 and US Airways up 0.5 percent at $5.94.
(Reporting By Karen Jacobs, editing by Matthew Lewis)
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