Delta is the latest airline to raise baggage fees
TheStreet’s J.D. Durkin brings you the biggest news of the day, including how the market fared and Delta’s decision to increase baggage fees.
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00:00 I'm JD Durkin reporting from the floor of the New York Stock Exchange.
00:03 Stocks were in the green to close out today's session here on Wall Street.
00:06 The Dow closed up 76 points, the tech-heavy Nasdaq closed up over half a percent, and
00:11 the S&P 500 also closed half a percent higher.
00:15 This all comes as investors continue to digest comments from Fed Chair Jerome Powell after
00:20 he reiterated that it is still too soon to cut interest rates.
00:24 In other news, Delta is now the latest airline to increase the price of checking a bag.
00:29 The company announced travelers will see a $5 hike when checking a bag, bumping up the
00:33 price from $30 to $35.
00:36 A second bag will now cost $45, also a $5 increase from the previous cost.
00:42 Customers with Delta perks like Sky Miles medallion members and those with first class
00:47 tickets will continue to be able to check bags for free.
00:51 Delta is the third major U.S. airline to raise baggage fees in the past several weeks.
00:56 Both United and American Airlines announced in February that they would be increasing
01:00 fees after previous announcements from JetBlue and Alaska Airline.
01:04 According to the Department of Transportation, in the first nine months of 2023, U.S. airlines
01:09 brought in $5.5 billion from baggage fees, a 9% year-over-year increase.
01:14 In 2022, the last full year for which totals are available, Delta brought in $979 million
01:21 from baggage fees.
01:22 That will do it for your daily briefing.
01:26 I'm Jay D. Durkin with The Street.
01:28 Thanks for watching.
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