Tourists can look forward to higher airfaresEven discount airlines will be available this summer and spring.

Frontier AirlinesCNBC’s Closing Bell featured Barry Biffle as CEO. Biffle said Friday that the prices paid by travelers for flights and add-ons, such as baggage fees, are among the most expensive in the pandemic.

Biffle stated that even with high fuel prices, he believes he can still be financially successful this summer.

In the United States, jet fuel has increased by 80% to its highest level since 2008. This is despite the fact that it was the largest expense for airlines after labor.

Biffle stated, “We will have to gentle raise our fares.”

Frontier Airlines, based in Denver, doesn’t use futures contracts to hedge fuel prices. American Airlines, one of the largest U.S. airlines, abandoned their fuel-hedging program after 2014’s crash in oil prices. However, Southwest Airlines and Alaska Airlines still hedge.

A tight labor market is causing airlines to struggle with staffing. A $54Billion federal aid package was designed to prevent U.S. carriers’ employees from being laid off during the pandemic. But, thousands of employees were encouraged by airlines to choose early retirement options or other packages.