WASHINGTON Higher airfares are "inevitable" this summer to help airlines absorb soaring fuel costs, the head of the trade association that represents the nation's leading air carriers predicted Tuesday.
James C. May, the president and chief executive officer of the Air Transport Association, declined to speculate on the size of fare increases, but he said that rising ticket prices are unavoidable as airlines struggle with unprecedented increases in the cost of fuel.
Jet fuel prices, he said, are approaching $170 a barrel, which he called "absolutely uncharted territory."
As airlines prepare for the summer travel season, May's organization predicted a slight drop in passengers from June 1 through Aug. 31 compared to the same period last year.
Approximately 211.5 million passengers are expected to fly this summer, a 1 percent drop from 214.2 million passengers during the same period in 2007. May attributed the drop to a weakening economy, higher fuel costs and cuts in airline capacity, but he said that, even so, planes would be relatively full.
