Will the others match?

mrf777

Advanced
Aug 20, 2002
143
0
CLE
www.usaviation.com
Continental Airlines Takes Aim at Higher Fuel Costs With $10 Fare Increase
HOUSTON, Feb. 14 /PRNewswire-FirstCall/ -- Continental Airlines (NYSE:CAL) said it is seeking to offset dramatically higher fuel expenses with a fare increase of $10 each way, effective today. The increase applies to all published U.S. domestic and international fares.
Continental has annual jet fuel expenses exceeding $1 billion and this cost has been rapidly rising as a result of higher crude oil prices, which today exceed $36 per barrel -- the highest since October 6, 2000.
Although the airline industry is suffering from overcapacity and weak demand, this fare increase is necessary to get Continental back on the path to financial recovery, a spokesperson said. Even with this increase, air fares today are a bargain by any measure.
SOURCE Continental Airlines
CO: Continental Airlines
ST: Texas, France
SU:
http://www.prnewswire.com

02/14/2003 11:09 EST
 

NWACSA

Member
Feb 4, 2003
19
0
[blockquote]
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On 2/17/2003 6:26:30 PM Rob wrote:

NW is apparently the successful holdout.
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[/blockquote]

So much for being "partners"

Actually here's a pretty decent article gives a good overview of the situation:
[url="http://www.thestreet.com/_yahoo/markets/ericgillin/10069652.html"]http://www.thestreet.com/_yahoo/markets/er...n/10069652.html[/url]
 

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