Latest Rate Hikes by Delta (DAL), Southwest (LUV) Appear to be Holding - Analyst

Delta (NYSE: DAL) and Southwest Air (NYSE: LUV) are ticking higher following reports that recent rate increases might be holding with customers.

JPMorgan analyst Jamie Baker commented today that this was the third attempt for airlines to increase fares, following two failed attempts at United Continental (NYSE: UAL) earlier in the year.

Delta increased fares on February 13th and the move wasn't readily copied by peers. Another "slightly scaled-back" increase was made February 19th, which "has gained modest competitor participation." Southwest increased rates on February 22nd, Baker noted.

Delta shares are up 3.2 percent Monday, while Southwest is up 0.8 percent.

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