NEW YORK – Katrina: just what the troubled airline industry did not need.
On top of a summer of sky-high fuel prices, the airlines are now getting slammed financially by Hurricane Katrina, and that could translate into higher ticket prices for the rest of us.
Click in the video box above to watch a report by FOX News’ Rebecca Gomez.
Katrina has already wreaked havoc on the nation's travel plans, causing massive flight delays and cancellations, and closing down entire airports.
The disruptions come at the worst time for the industry. Airline stocks fell Tuesday as many feared that Katrina, combined with sky-high oil prices, could be the one-two punch that knocks some carriers like Northwest (NWAC) and Delta (DAL) into bankruptcy.
Delta, which is a major carrier in the hurricane-affected region, lost 5.5 percent on the New York Stock Exchange to $1.20.
United Airlines, the nation's No. 2 carrier, which is already bankrupt, canceled all 63 flights through midday Tuesday.
Experts say it's possible airlines could raise ticket prices immediately to cover fuel costs and hurricane losses.
"I don't know how long it's going to be, but I would imagine somebody talking about adding a jet fuel tax or a jet fuel surcharge to a ticket," said Phil Flynn of Alaron Trading. "We'll have to wait to see."
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