Oil Price Spike Will Affect Airfares in 2011

It looks like the increase in airfares in January 2011 is only the beginning.

After climbing 7 percent in 2010, airfares were on their way up again in January, according to American Express Business Travel’s Business Travel Monitor. And it looks like that’s only the beginning.

The average airfare was $231 for domestic flights at year’s end, just 6 percent shy of 2008 highs. “With oil prices rising, airlines are looking to cut their capacity growth plans to combat higher

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