Sky-High Airfares

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Have you noticed that your plane ticket began costing a bit more a few months ago? A recent re-port, compiled by American Express, found business fares rose in September for the sixth month in a row, with business travelers’ tickets at their highest level since January 1992. Jeffrey Long, an analyst for J.P. Morgan Securities, estimates that business fares were up 15%-20% last year. And the trend is expected to continue.
Last August, the government reinstated the 10% airline ticket tax, which generally resulted in higher fares for economy class tickets. Although the tax expired December 31, 1996, it goes back to the new Congress for renewal this year. Even if the ticket tax is not passed again, other factors play into rising fares. many airports have added or increased passenger facility fees to pay for other municipal projects. This increase will trickle down to–guess who–the flying public.