CHICAGO _ As rising fuel prices propel air fares toward the stratosphere, most travellers would like nothing better than to see a new low-cost carrier with rock-bottom ticket prices.Better reserve that idea for sometime in the future.While past recessions have spawned ultra-cheap airlines, experts say the triple-digit oil prices that are pushing air travel out of reach for average Americans also will almost certainly keep a no-frills carrier from entering the market any time soon.When the economy is bad, it`s often a good time for startups because (out-of-work) pilots want to work, planes can be acquired for very little and people are wanting to pinch pennies, said Alan Bender, professor of airline economics at Embry-Riddle Aeronautical University in Daytona Beach, Fla. But with fuel prices being what they are, I believe that kills the whole notion.Soaring oil and jet-fuel prices already have contributed to the shutdown of one true no-frills carrier this spring _ Skybus Airlines, known for its US$10 gimmick fares _ along with forcing ATA Airlines and Aloha Airlines out of business and sending Frontier Airlines into a bankruptcy restructuring. Also, Champion Air plans to cease operations and MAXjet Airways did so in December.The price of jet fuel, now about $3.66 a gallon, rises correspondingly with every increase in oil prices. The current price is about 66 per cent above last year`s average price, according to AirlineForecasts LL ...
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