UNITED NEWS INTERNATIONAL (UNI) — Unfortunately, for those of you who are seasonal flyers, plane tickets are about to get more expensive.
At the International Air Transport Association Annual General Meeting which started on Sunday, June 3, airline bosses warned ticket prices are going up as a result of rising oil and labor costs.
The IATA predicts fuel costs will increase by 25 percent this year and airlines will pass some of those expenses onto passengers.
The exact increase in price is not known. The message from the major airlines, however, is unanimous.
According to CNN, Delta lowered its profit forecast on Wednesday and said its fuel costs were up around 50 percent from last year. United Airlines also announced its prices will increase.
Meanwhile, the IATA also predicts global airlines will see a collective net profit of nearly $34 billion in 2018. This, however, is 12 percent lower than expected.