After years of belt-tightening, Americans are finally returning to the skies this summer, only to find fewer planes and more expensive airfare.
Over the last 18 months, the airlines have been grounding hundreds of planes, reducing their fleets by around 8 percent. With fewer planes in the sky, expect longer airport security lines and to pay around 10 percent more for domestic and international flights.
On the CBS Evening News with Katie Couric, Peter reported on the factors driving up summer airfare and the silver lining to the rise in prices.
Watch Peter’s segment here:
Watch more of Peter’s TV & Video segments on PeterGreenberg.com here.
To learn more about the surcharges that are behind the increase in prices click here.
Check out our summer airfare guide to learn about ways to save despite rising airfare rates.
And while you’re at it, watch Peter’s segment on summer deals for The Early Show on CBS.
