The current worldwide financial crisis has had a significant negative impact on all of the US air carriers.  Declining numbers of vacation travelers and less business travel have left the airlines with a significant reduction in passengers and increasing revenue losses. 

The coming summer travel season is normally the busy time for airlines.  It is usually the time when they increase their fares.  This summer will be different.  Southwest Airlines, the largest discount air carrier in the USA, has published significant fare reductions through the summer travel season.  Most other airlines have countered with matching fare reductions.  It appears that we can expect an air-fare price war this summer.

This is great news for vacation travelers.  It means that bargain air fares are currently available.  You can now fly coast-to-coast from New York to Los Angeles for only $120.  You can fly from New York to Orlando Florida for less than $100.  Even the overseas prices have plummeted during this normally high-priced summer travel season.  Air fares to Europe are nearer to $500 or $600 for a round trip instead of the normal $900 to $1000 during the summer.