Despite record summer air travel demand, U.S. airlines are not seeing record profits due to higher labor and other costs. They increased capacity by about 6% in July compared to the previous year. Airfares to Europe are averaging $892, down from $1,065 last summer, and overall airfare was down nearly 6% in May from a year earlier. There are concerns about late-summer travel demand as some travelers opted for trips in late spring and early summer. Delta, America’s most profitable airline, will report on Thursday amid booming air travel.
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