Jet Fuel Closes Up 13 Cents on the Day: $3.22/gallon

New York Harbor Jet picked up another 13 cents in trading today. Closed at $3.22/gallon.

Last week Southwest Airlines CEO Gary Kelly said the airline would not reassess its capacity plans unless fuel hit $3.30 a gallon. Looks like that day could come sooner than he had anticipated. [more]

Meanwhile, American Airlines became the second major U.S. carrier (behind Delta who did so in February) to announce a cutback in 2011 capacity as a result of higher fuel prices.

Holly Hegeman publishes PlaneBusiness Banter, the most widely read weekly financial newsletter in the airline industry. This post is syndicated from her blog, PlaneBuzz.