US Airlines Buoyed By Economic Tailwinds

US Airlines have been flying high this year as the decline in fuel prices gave way to higher margins for many companies. In addition to lower fuel prices, the improving US economy has also created room for growth in the industry as more and more Americans use their disposable income to travel further and more frequently than in previous years.

An airline industry trade group, Airlines for America, released a

showing that US companies are expecting to see a 4.5 percent increase in passengers this summer. June 1 to August 31 tends to be one of the largest travel periods for US passengers, but this year airlines will be boosting the number of seats available to sell in order to accommodate the 2.4 million passengers per day that are expected to purchase tickets.

The marked increase in passenger numbers appears to be a direct result of the improvement in the US economy. With unemployment on the decline and wages steadily increasing, many Americans are in a more financially secure place and have disposable income with which to travel.

International travel is also expected to increase; with some 332,000 passengers per day expected to travel abroad. The report showed that top destinations will include Mexico, Germany and Japan. Many believe that Europe and Asia have become more attractive to US travelers in recent months as the dollar's recent strength has made paying for things like hotels and rental cars less expensive.