00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Airline fares are rising as the U.S. war with Iran drives higher jet fuel costs
00:07and tests how much airlines can raise prices without weakening demand,
00:10according to the Wall Street Journal.
00:13Transcontinental routes saw the largest fare increases,
00:16with one-way flights booked more than three weeks in advance,
00:18more than doubling from the prior week.
00:21Spirit recorded the largest week-over-week increase in domestic fares among nine U.S. airlines,
00:26while other major carriers raised prices between 15% and 57%.
00:31Carriers operating more fuel-efficient aircraft, such as United and Delta,
00:36are better positioned than airlines relying on older planes.
00:39TD Cowan lowered earnings targets for several major airlines
00:42and said carriers could revise guidance by next week.
00:46Airline stocks have fallen between 10% and 20% since the Iran conflict began.
00:51For all things money, visit Benzinga.com.
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