Airline revenues going up, up and away

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Passenger revenue for the nation’s airlines rose 14.4% in May, marking the 17th consecutive month of revenue growth, according to a trade group for the country’s air carriers.

The Air Transport Assn. of America reported Tuesday that passenger traffic -- as measured by miles flown by paying passengers -- grew 2.5% in May, compared with the same month in 2010. Meanwhile, the average price to fly rose 11.6%, the association reported, based on data from more than two dozen airlines.

Airlines reported the biggest revenue increase, 26%, from flights to Latin America and the Caribbean.

‘Increased air travel spending in May, leading up to the busy summer travel season, reflects the recovering economy,’ said the association’s chief economist, John Heimlich. ‘A double-digit yield increase with improvements in U.S. domestic and international markets will help the industry cope with stubbornly high energy costs.’

-- Hugo Martin