(Dive Travel Business News - March 27, 2011) -- Airfare increased 7% in 2010, leaving it 6% below its record high in 2008, according to the American Express Business Travel Business Travel Monitor study released March 15, 2011. Fares have been on the rise this year, suggesting they will surpass their previous record soon.
"With oil prices rising, airlines are looking to cut their capacity-growth plans to combat higher fuel costs," said Christa Manning of Global Advisory Services, American Express' research division. "Increases in airfares are likely to remain on an upward trend in 2011. So far this year, we are seeing this trend hold true with domestic airfare rates in January up 8% compared to January 2010." read more »