The top ten US carriers, excluding American Airlines and its shirt-burning Chapter 11 entrance and $2bn loss, performed well in 2011with revenue on the main increasing by over 10% while fuel costs saw an aggregate average cost increase of over 13%. The message is that although fuel increases are hitting the airlines in the USA, on the main the carriers have adapted well. Ticket price increases have, until the final calendar quarter of 2011, kept pace with cost increases ensuring margins held. But investors want to know if this is going to continue through 2012. The very short answer is:
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