U.S. airlines cut growth plans in a bid to stem profit-eating fare discounts
Publishing timestamp: 2024-07-29 13:58:23
Summary
U.S. airlines are cutting their growth plans for the second half of the year due to oversupply in the domestic market leading to lower fares and reduced profits. This could result in higher fares for passengers. Low-cost and discount airlines are under pressure to cut growth plans and unprofitable routes. Airlines are reducing capacity in a bid to boost profits, but this could also impact consumers.
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Source: https://www.cnbc.com/2024/07/29/us-airlines-cut-growth-plans-for-second-half.html