Falling oil prices leading to record airline profits, cheaper air fares

New York

PLUMMETING oil prices have led to falling plane ticket prices - and prospects for an even bigger bonanza of consumer-friendly fares in the coming months, airline industry players say.

With fuel prices down by two-thirds from the dizzying heights of mid-2014, when oil topped US$100 per barrel, the once cash-strapped airline industry is now reaping record profits.