Scott Olson/Getty Images Airline stocks are rallying after the last of the world’s three biggest carriers hiked baggage fees. Shares of…
Scott Olson/Getty Images
Airline stocks are rallying after the last of the world’s three biggest carriers hiked baggage fees.
Shares of American Airlines jumped more than 4% on Friday after it joined Delta Air Lines and United Airlines in raising the fee of one checked bag from $25 to $30. A second checked bag will cost $40. The changes take place starting Friday, and are the first hike by American since 2010, according to a press release.
Piggybacking the move, Delta Air Lines gained 3.13% while Southwest Airlines added 2.11%. United Airlines and JetBlue were both up less than 1%.
On August 27, JetBlue became the first major US airline to raise prices for a checked bag. Similar price hikes by United and Delta more recently implemented.
American shares were down 18% this year.
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