Airlines Cut Profit Outlooks

It's Benzinga, bringing Wall Street to Main Street. U.S. airlines are raising fares as passenger traffic declines and soaring jet fuel costs pressure profits, according to CNBC. Air fares rose more than 22% in September from a year earlier, while airport screenings have fallen nearly 2% since April. Jet fuel prices have more than doubled, reaching $4.63 per gallon. Airlines are prioritizing higher fares over filling planes, with demand remaining strong for premium seats. United Airlines reported a 16% increase in unit revenue during the third quarter, while Southwest Airlines raised its average fare by nearly $50. American Airlines, United, Delta Airlines, and Southwest all lowered their 2026 profit forecasts. Carriers are also reducing growth plans, which could keep fares elevated. Spirit Airlines' shutdown in early May may have contributed to declining air travel, with Bank of America suggesting some former customers have stopped flying. For all things money, visit Benzinga.com.