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Airlines rescind recent fare hike.(Knight Ridder Newspapers)
Byline: Trebor Banstetter
The quest for a competitive edge beat out the need for higher ticket prices once again among the major airlines, as they rescinded a short-lived fare increase over the weekend.
Most of the major airlines, including Fort Worth-based American Airlines, hiked round-trip fares by $10 nationwide on Friday, blaming the rising cost of jet fuel for the increase. But as it has many times in the past, Northwest Airlines played the spoiler, refusing to match the increase on all of its routes.
The competitive pressure then forced the other carriers to rescind their hikes, and by Monday fares had fallen to their previous levels.
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