Morning Business Report: Airfares rise as airlines cut flights and renters stay longer in homes
Plane ticket prices are climbing as airlines cut back on flights in response to weakening demand.
(LILAMAX)- Plane ticket prices are climbing as airlines cut back on flights in response to weakening demand. According to the Bureau of Labor Statistics, airfares rose 4% in July, the first monthly increase since January. Industry data from Cirium shows U.S. carriers reduced domestic capacity by 6% in August. Meanwhile, a new study finds renters are staying put longer. On…