Airline Industry Keeps Ticket Prices High Through Collusion
Over a century after the Theodore Roosevelt Administration took on Standard Oil over a similar issue, the U.S. Department of Justice is launching an investigation of the airline industry over price fixing. DoJ sources have not named any specific airline companies, but thanks to the tidal wave of mergers and acquisitions over the past few years, it’s not too difficult to figure who the culprits are. Today, four carriers – American, Delta, Southwest and United – control over 80% of the domestic market for air travel. Since 2009, the cost of airline tickets have gone up by 13% In...
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