Southwest has been raising passenger fares in 2012 due to rising crude oil prices.
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Last month, the government raised passenger fares because it said the network was facing a loss.
The minister's sin: raising passenger fares on India's vast railways for the first time in nine years.
However, the effect of higher non-fuel costs and lower passenger traffic was offset by higher passenger fares.
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However, its overall passenger revenues increased on account of higher passenger fares.
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India's Railway Minister Dinesh Trivedi has denied reports that he has resigned after his party protested against his decision to increase passenger fares.
It has managed a stealthy 14% rise in passenger fares over the past three years, against a mere 2% rise in freight charges.
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If yield levels do not fall, which is likely as passenger fares were stable, then we will see impressive top line growth in the fourth quarter.
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Yet in his budget in February this year, as last year, Nitish Kumar, the minister of railways, announced that there would be no increase in passenger fares.
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By 2022, fliers will likely have accepted the idea that they must pay fees for every perk and service which, a generation earlier, was included in passenger fares.
Earl Attlee said a recent survey by Passenger Focus had reviewed UK rail fares and, although the "overall picture was mixed", the country compared favourably with other European countries "in respect of many ticket types, particularly on longer distance tickets purchased in advance".
Midwest Airlines, a Milwaukee-based carrier catering to business travelers with low fares, recorded the heftiest passenger change fees as a percentage of passenger revenue.
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Watchdog Passenger Focus believes the systems should be upgraded to offer many more fares and reassure consumers.
Fare increases would "broadly follow inflation" if passenger numbers grew at the expected rate, added Mr O'Toole, but he could offer no commitment that fares would not increase at a higher rate than that if these projections proved wrong.
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