AT&T, T-Mobile, Sprint and Verizon will cut fares to passengers and baggage handlers by 10 percent to help the airlines ease the impact of a sharp slowdown in the US economy, Bloomberg reported.
The move comes as the economy slows, and the carriers are hoping to cut airfares by as much as 20 percent as they continue to try to boost revenue amid a slowdown in spending.
The airline industry has struggled to regain competitiveness amid slowing ticket sales and the cost of gas.
Airlines were on track to post a loss of $2.9 billion in the first three months of 2017, according to the airline industry’s own data.
But the airline industries woes have deepened since the fall of the Wall Street Journal in January, when the airline sector’s worst-ever downturn.