Domestic airfares plunge despite capacity cuts

08/3/2009 | Los Angeles Times (tiered subscription model)

Airlines have drastically reduced capacity, but ticket prices are continuing to drop, data show. Average airfares dropped more than 9% during the first quarter compared with the fourth quarter of 2008, according to records from the Bureau of Transportation Statistics. "It's a flier's market," said Tom Parsons, chief executive of BestFares.com. "I don't know if we're ever going to see a year like this one."

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