US: Airport upgrades at Sea-Tac and across the US will push airfares higher, report says

Seattle-Tacoma International is among the nation's major airports that are spending US$105b to upgrade facilities between now and 2021 amid projections that passenger traffic will double in the next 2 decades, a new report says. "Airports are expanding and refurbishing their buildings, runways and access to be able to handle future growth," says the report by Cowen and Company airline analyst Helane Becke. Becker and her team estimate that airline traffic "will double over the next 12 to 15 years, with about half of that growth focused on international markets." "The construction will add to airline costs, and this will need to be addressed through higher fares," the Cowen analysts added. "With operating costs at major airports increasing, we fully expect the traveling public to bear the brunt of the expected increases." <br/>