US Airways Cuts Fares in Midst of Frenetic Travel Season
Updated from 12:52 p.m. EDT
US Airways
(U) - Get Unity Software, Inc. Report
announced a fare sale Tuesday, offering 25% discounts on many off-peak fares in North America and the Caribbean through fall.
US Airways called the sale the airline's traditional summer promotion. It coincided with the height of an especially frenetic season of air travel.
The discounted fares, which must be made 14 days in advance, require roundtrip travel and usually require a Saturday night stay, will run from July 21 to December 15, the company said.
It was not immediately clear whether other airlines would follow suit.
Customers who purchase their tickets online through the company's Web site, will receive an additional 5% off.
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Shares of the Arlington, Va.-based company finished up 1 1/16, or 3%, at 40 3/4.
US Airways has
agreed to merge with
UAL
(UAL) - Get United Airlines Holdings, Inc. Report
, the parent of No. 1 U.S. carrier
United Airlines
, for $4.3 billion in cash. UAL will also assume $1.5 billion of US Airways debt and $5.8 billion in aircraft operating leases.
United did not immediately return a call, and it was unclear how other carriers would react to the discounts. But rival airlines routinely match such sales.
