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Morning Brew Daily
Airlines Make $33B on Bag Fees & Investors Are All in on Farming
Feb 21, 2024
24:35
Snipd AI
Discussing the increase in airline baggage fees, Walmart's move into advertising, the surge in farming investments, HBO's push for Max subscriptions, a potential chocolate shortage, and the transformation of a former Disney star into a space CEO.
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Quick takeaways
- Airlines are raising baggage fees to offset costs and increase revenue, with $33.3B earned in 2023.
- Investors are investing in farmland to hedge against inflation and capitalize on growing food demand.
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Checked Baggage Fees on Flights Increase
Airlines, including American Airlines, are raising fees for checked baggage on flights to offset rising costs. The price hikes aim to discourage excessive packing and generate additional revenue. Bag fees have become a significant source of income for airlines, with a recent report indicating that airlines collected $33.3 billion from checked bag fees in 2023. JetBlue, for example, has also raised its bag fees but offers other amenities such as free Wi-Fi and in-flight entertainment.
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