Airlines are battling for passengers on domestic routes by offering a variety of travel deals. "If you are paying over $300 for an airline ticket right now, you are probably paying way too much," said Rick Seaney, CEO of FareCompare.com. "We'll never see these prices again outside of a recession." Fares for international flights have also been reduced, but some analysts are skeptical that the airfare deals will prompt travelers to buy, given the current economic climate -- companies are cutting back their travel budgets and individuals are reigning in their vacation plans, they point out. One industry group is projecting that airlines will lose $2.5 billion globally this year.

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