Pandemic Driven 'Revenge Travel' Abating
(New York, NY) -- Airlines are bracing for the end of the "revenge travel" boom, cutting ticket prices to fill seats amidst a more uncertain outlook. That's a sharp turnaround from a period of high air fares, when passengers were desperate to travel anywhere and airlines suffered from a shortage of planes. The cracks have largely come on shorter routes in the U.S. and Europe and in economy class, with more expensive seats in business and first class less affected. American Airlines slashed its profit forecast for the year and Spirit Airlines cut its revenue outlook for the second quarter. Southwest Airlines will begin offering assigned seats to boost revenue, leaving behind their company defining free-for-all seating policy.