New York Airlines In Crisis: Flight Options, Slashed Costs Explode

Major airlines are warning New Yorkers to expect fewer flights and higher prices in the near future.

Two major airlines have grim news about future travel.

Almost Every Major Airline Is Losing Money

According to United Airlines CEO Scott Kirby, almost every airline, "not named United or Delta," is losing money on a large number of routes.

"The only way for them to get margins that are anywhere close to their Weighted Average Cost is to stop flying places that lose money. And that is going to ultimately happen,” Kirby predicts.

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Kirby believes that all airlines, besides Delta and United, lose money on a "double-digit percentage of their route network."

Frontier CEO Sounds Alarm

Kirby made those comments in July. This week, Frontier's CEO pretty much confirmed Kirby's predictions.

In an August earnings call, Frontier Airlines CEO Barry Biffle said that most domestic flights aren't profitable, which means flight reductions are highly likely.

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"There’s going to continue to be reductions in capacity in this industry," he said. "We believe that the entire industry is not making money. Domestic (flights are) not making money. And that’s because there is too much supply relative to demand.”

Good News For United, Bad News For New Yorkers

Kirby says this great news for United and Delta, because it will likely lead to less flight options and reduced competition.

But it's terrible news for New Yorkers. With less competition and less flight options, New Yorkers will likely deal with higher costs and less flexibility when booking future flights.

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