10/8/2008

Despite a roughly 33% drop in the price of oil, airfares remain high due to reduced capacity and concerns that oil could spike again. Gerard Arpey, CEO of AMR Corp., already has warned that airfares won't necessarily fall in concert with oil prices as airlines struggle to recover from huge losses. But some experts say a spreading financial crisis could lead to a sharp drop in travel, forcing carriers to cut fares in order to keep planes full.

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