More airlines raise fares to grab tax savings

July 25, 2011 10:07:20 AM PDT
The great tax holiday of 2011 for air travelers is just about over. By Monday, most U.S. airlines raised fares to grab the benefit of lower federal taxes on airline tickets.

A few airlines that were passing the savings on to consumers have changed their minds and decided to keep the money.

Several federal taxes on airline tickets expired over the weekend after Congress failed to pass legislation to keep the Federal Aviation Administration running at full speed.

It could turn into a windfall for airlines if the stalemate in Congress drags on.