Bill McGee

I think the airline industry right now is the perfect example of the K-shaped economy.

The big airlines, they're saying that in their earnings calls, that they are making much of their money from those Americans who have the most money to travel.

If you're going to be traveling and you were thinking of holding off to see a better fare,

it makes sense not to do that right now, to book early.

We're going to have to keep a very close eye on this and try and keep the airlines honest, but there's no doubt that fares are going to increase.

Airlines typically raise fares when fuel costs rise, but are slower to lower prices when those costs fall.

Bill McGee is a senior fellow for aviation at the American Economic Liberties Project.

He says that's likely to show up in ticket prices over the next several months.

McGee says demand is also getting a boost from travelers rushing to lock in fares before prices climb higher, a trend that could add more pressure heading into summer.

Windsor Johnston, NPR News.