American and Southwest raises base fares by $5 each way

DALLAS (AP) — American Airlines and Southwest Airlines have raised fares by $5 each way as carriers seek to reverse a price slump that’s lasted nearly two years.

Fort Worth-based American raised prices first and Dallas-based Southwest A followed suit on Thursday.

Fares have been falling since airlines began adding flights and seats faster than the growth in travel demand.

Southwest shares tumbled 8.5 percent Wednesday after the company gave a weak forecast for a key revenue figure in the fourth quarter. The forecast suggested that lower fares are likely to last through year’s end.

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