Southwest joins other US airlines in raising fares

DALLAS (AP) — Southwest Airlines Co. has joined a sweeping increase of $10 in the price of many domestic round-trip airfares, citing the need to offset high fuel prices.

Southwest's action over the weekend may have ensured success for a price hike by major airlines that seemed to be faltering. Southwest carries more U.S. passengers than any airline and wields great influence over prices.

It's the sixth time airlines have raised fares already this year. FareCompare.com CEO Rick Seaney says leisure travelers may now have to pay $260 for a ticket that cost $200 back on Jan. 1.

The airlines say they need the money.

"Fuel prices are up every week, and the fare increases aren't keeping pace with fuel-cost increases," Southwest CEO Gary C. Kelly told The Associated Press.

Kelly said Southwest is on pace to spend $1.3 billion more on fuel this year than last year. That's nearly triple the airline's $459 million net income for 2010, or about $15 per customer.