DALLAS, TEXAS -- Southwest Airlines is joining several other airlines and raising fares. The company says it will increase their fares by $10 for a round-trip, saying it needs the money to offset higher fuel costs.
Prices for jet fuel have risen about 50 percent to about $2.80 per gallon in the last year. Southwest CEO Gary Kelly says fuel is the only worrisome factor in the airline's outlook for 2011.
In 2010, the airline company spent $3.6 billion on fuel, one third of its budget, and came in right behind labor as the company's largest expenses.
The airlines industry, including Southwest, have raised fares on leisure travelers several times since December.
