Delta is the latest airline to raise baggage fees

  • 6 months ago
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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Transcript
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.
01:28 [end]
01:29 [BLANK_AUDIO]

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