Turbulence in the Skies

Those $99 ticket prices, a boon to travelers, are a bane to the airlines

Delighted air travelers have been crowding ticket counters and tying up telephone reservation lines during the latest round of fare wars. For just $99 a seat one way they have been flying merrily between cities like New York and Los Angeles—a trip that can cost four times as much at full price. But the fares that have been so pleasant for passengers have been torture for the troubled airline industry. Some executives privately refer to the deep discounts as going-out-of-business sales. Says Monte Lazarus, senior vice president of...

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