Schumer calls on Feds to investigate airfares

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12-14-2014, 11:06 AM

forgot to bid

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Schumer calls on Feds to investigate airfares

https://www.newsday.com/news/region-...ares-1.9712364

Quote:

He's calling for the Department of Justice and the Department of Transportation to investigate why airfares are so high despite what he described as "record" airline profits and "rapidly declining" fuel costs.

12-14-2014, 11:10 AM

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I guess it was pretty foolish to think the ruling class were going to be okay with airlines making record profits without a bigger cut of that going to DC.

12-14-2014, 11:15 AM

cmesoar

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Wow! I think he has some memory loss issues! Just another attack at business from this government. I see this getting dropped... I hope!

12-14-2014, 11:43 AM

shoelu

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Quote:

Originally Posted by forgot to bid

I guess it was pretty foolish to think the ruling class were going to be okay with airlines making record profits without a bigger cut of that going to DC.

They're still peeved that so much of that revenue is coming from fees, not fares. I don't think they've figured out a way to sink their teeth into fee revenue..........yet.

12-14-2014, 11:48 AM

Mesabah

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Quote:

Originally Posted by forgot to bid

I guess it was pretty foolish to think the ruling class were going to be okay with airlines making record profits without a bigger cut of that going to DC.

This doesn't surprise me at all, for years I was saying, if the government steps in, it will be to keep fares low. They're pathetic.

12-14-2014, 11:48 AM

galaxy flyer

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Chuckles needs a refresher in ECON 101, specifically how prices are set in a market. Hint: it's demand, not cost of goods sold.

GF

12-14-2014, 12:03 PM

fireman0174

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Quote:

Originally Posted by galaxy flyer

Chuckles needs a refresher in ECON 101, specifically how prices are set in a market. Hint: it's demand, not cost of goods sold.

GF

I'm NOT a fan of Schumer

, as I see this as another example of him doing anything to get his name in the news, but you don't think the airlines are capable of collusion?

12-14-2014, 12:35 PM

Oberon

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Quote:

Originally Posted by fireman0174

I'm NOT a fan of Schumer

, as I see this as another example of him doing anything to get his name in the news, but you don't think the airlines are capable of collusion?

This is what I'm worried about. Airline leaders have always been greedy little piggies but have exercised remarkable capacity restraint recently. Have they learned their lesson or have they learned cooperation?