Plunging Airfares Hit 2-Year Low

The recession is causing a drop-off in ticket sales, which in turn is causing the airlines to make deep fare cuts, reports the Wall Street Journal. According to Travelocity, airfares for the 100 most popular routes have hit a 2-year low, and are priced 40% lower than last June's peak. Good news for travelers, but not so for airlines, who hoped their operations—streamlined when oil prices hit $140 a barrel—would reap big bucks once those prices fell.
(More airline stories.)