=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2002/06/03/f= inancial1527EDT0206.DTL ---------------------------------------------------------------------- Monday, June 3, 2002 (AP) The airfare switcheroo: carriers remove $20 ticket price increase (06-03) 13:25 PDT NEW YORK (AP) -- For the third time in less than two months, several major airlines have reversed a $20 increase on round-trip leisure fares. Continental Airlines, which initiated the fare increase late last week, rolled it back over the weekend after it became apparent that some carriers refused to go along with the move. American Airlines, Delta Air Lines and Frontier Airlines, which had matched the fare increase on advance-purchase tickets that require a Saturday night stay, also reversed course. "A $20 differential per ticket is plenty of money to prompt a family of four to switch to a competing carrier," said Tom Parsons, chief executive of Bestfares.com. "American, Delta or Continental couldn't afford to give their competitors this big of an advantage." It was the third time since mid-April that Continental had attempted to raise fares for leisure travelers. Air travel demand was down 12 percent in April compared with last year, although that was a dramatic improvement from October, the first full month of travel after last year's terrorist attacks. Carriers have spurred demand by keeping prices well below year-ago level= s. The average price of domestic airfare was down roughly 12 percent in April, compared with a year ago, with a 1,000-mile domestic trip costing $124.80. Shares of Continental lost $1.22 Monday to close at $21.05 on the New Yo= rk Stock Exchange, while Delta dropped $1.32 to $24.93. The stock of AMR Corp., American's parent company, closed at $20.33, down 62 cents. =20 ---------------------------------------------------------------------- Copyright 2002 AP