Move could cost industry billions

By John Schmeltzer
Tribune staff reporter
Published January 6, 2005

Delta Air Lines on Wednesday cut its most expensive fares--some by more than 50 percent--prompting two other airlines to follow suit and causing Wall Street to worry about revenues in the already struggling industry.

The cuts will cost the airline industry billions of dollars at a time when it continues to struggle to recover from a downturn that began after the Sept. 11 attacks, analysts predicted.

Delta's cuts were mimicked quickly by Northwest Airlines and US Airways in many markets.

Delta slashes priciest tickets, continued