Oil speculation "drives up the cost of travel," says AirTran chief

Oil speculators are pushing up the cost of airline travel, says AirTran Airways CEO Bob Fornaro, pushing for greater regulation of derivatives trading. "If your No. 1 or No. 2 expense is going up rapidly, it pushes fares up," he says. Fornaro's position echoes that of the Air Transport Association, which held a press conference recently to support financial reform. "The airlines feel that we need to get back to the point where supply and demand determine what the consumer should pay," says at ATA spokeswoman.

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