JetBlue cuts fares by up to 50 percent

JetBlue Airways Corp. on Tuesday said it will cut prices by as much as half on 1 million seats this fall, becoming the latest low-cost carrier to slash fares in recent days.

Southwest Airlines, AirTran Airways and ATA recently announced heavily discounted fares for fall flights, starting an unusually early round of price cuts in an industry that has been struggling to keep profits alive.

Fare sales are common in the period between Labor Day and Thanksgiving, traditionally one of the weakest seasons for U.S. airlines. But price cuts are usually announced later in the year and are typically led by the major carriers.

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New York-based JetBlue said it is offering one-way fares of $29 to $99 if tickets are bought by July 29.

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Dallas-based Southwest last week slashed its prices by as much as 65 percent, offering $39 to $99 fares on late summer and early fall flights. AirTran also announced a 30 percent price cut on all its fares.

Larger carriers, such as Delta AirLines, Continental Airlines, and American Airlines have already dropped fares to match Southwest's discounts.