Washington – Sen. Charles Schumer is calling for federal investigations of high airfares, questioning why they’re not dropping along with fuel costs.
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The New York Democrat says with holiday travel approaching, the high cost of flying is painfully apparent to thousands of passengers.
He’s calling for the Department of Justice and the Department of Transportation to investigate why airfares are so high despite what he described as “record” airline profits and “rapidly declining” fuel costs.
According to the senator’s office, the International Air Transport Association forecasts the airline industry profits will grow from $19.9 billion this year by 26 percent to $25 billion next year.
Meanwhile, oil prices have dropped by 40 percent si
Tzurik Geit Ah Kozeh
Wow, it never ceases to amaze me how this buffoon could be the שוטה גמור that he is and continue to be elected by the electorate in NY State.
Based on his highly unintelligent concern, why aren’t we paying $2.25 for home heating oil?
Hey Chuck U, how about getting a real job really really soon? And maybe one day b’korov you’ll also have to worry about paying bills, like most of us out here in Realville.
Its called profits. Isn’t this country about capitalism. I guess the airline lobbyists need to up their game.
Why haven’t food prices declined as well? The uproar should be about that. Because that affects all of us.
I do suspect that alot of it does have to do with hedges that were locked in already. Nevertheless, I still think they capitalize on it
Um… .1,2,3 airfares are regulated by the government, therefore is the government job to make sure things are in sync
Chuck is in the headlines. It must be Sunday in the US.
He is 100% right on that one. I suspected price fixing for quite a long time. It was years ago that the prices were 50% lower and all airlines were all somewhere in the ch. 11 process (deep in, before, after or between). Suddenly the prices are so high and all of them are raking it in.
Or they became smart and saw they have to turn a profit, but reality does not work like that. I suspect a price fixing case that will put the GE-Westinghouse scandal to shame.
Well the actual timing of this is wrong as the airlines usually hedge their kerosene prices so it will take quite a long time until they actually feel the price difference and are able to pass on the savings.