On the flip side, U.S. airline passengers, who will be flying on full flights this summer, may collect higher payments for being involuntarily bumped by carriers.
Manila Publishing reports that U.S. Transportation Secretary Ray LaHood proposed raising the maximum payment by 63%, to $650, if fliers arrive within two hours of their original schedule, and $1,300 if not. The targets, raised two years ago, are $400 and $800. [ETFs to Watch This Summer.]
Across the board in the United States, demand for tickets is growing almost twice as fast as the number of available seats, and fares are increasing significantly.
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- Claymore/NYSE Arca Airline (NYSEArca: FAA): U.S. airlines get the largest weighting in this fund at 70.4%. European carriers make up another 12% of the total weight.
Tisha Guerrero contributed to this article.