Meghna Maharishi

Southwest Airlines saw revenue jump to a record of $8.4 billion — a 16.4% increase — in the second quarter as the carrier increased airfares and baggage fees to offset fuel costs.

Higher fares also gave American a revenue boost, with the carrier reporting a record revenue of $16.7 billion in the second quarter, a 16.3% increase. The carrier made a profit of $71 million.

As the airline industry grapples with highly volatile fuel costs, carriers are either cutting capacity more aggressively or raising airfares.

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Highly volatile fuel prices are still complicating airlines’ profitability.

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Ultra-low-cost carriers once thrived from offering dirt cheap fares and bare bones service. But Frontier Airlines is showing real pricing power, and higher airfares have meant a surge in revenue.

Despite six straight years of losses and growing speculation about a Chapter 11 bankruptcy, JetBlue is banking on domestic first class seats to help it turn a profit next year.

The Federal Aviation Administration approved the smallest variant of the best-selling Boeing 737 Max family following a decade of delays.