Airfare expected to increase in 2017, airlines say

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The airline industry is forecasting a slight hike in airfare in 2017. (AP Photo/Chris O'Meara, File)

Commercial airline passengers may begin to feel the pinch later this year, as major US airlines expect to raise ticket prices.

Delta announced that it expects ticket prices to jump as much as 2% in 2017. The airline reported a 37% drop in income in last quarter because of lower fares, a decline in revenue and higher labor costs, CNN reports.

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The four major airlines that control 80% of the domestic market reported lower fares for most of 2016, and executives at Delta, American, United and Southwest are all looking for ways to end the decline.
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