American Airlines raises fares

Due to rising fuel costs, American Airlines is increasing its fairs for travel within North America. Passengers traveling to destinations within the continent will be forced to pay an extra five dollars for each one way ticket and an extra ten dollars for each round trip ticket. With current oil prices as high as they are, American, the largest carrier in the United States, feels the need to increase its fares because it will spend $1 billion more on fuel this year than last year. According to American, every time the price per gallon of jet fuel increases by one-cent, it costs the airline more than 30 million dollars a year. As a result of higher jet fuel costs, American’s parent, Fort Worth-based AMR Corp., is losing money. Since the beginning of 2001, the company has lost more than $6.7 billion.