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Airlines successfully hike airfares for third time this year

Updated March 27, 10:50 a.m. ET -- U.S. legacy and low-fare airlines have agreed to increase airfares by up to $10 on roundtrip flights. 

Airlines have attempted five fare increases so far this year, and three have stuck.

In the second quarter of 2011, prices jumped twice, Rick Seaney, CEO of FareCompare.com, said in an e-mail. "I expect to see something similar this year as we head into the historically busy summer travel season which is likely to be much busier this year."

"Consumers who are traveling through early June should be shopping now and holding off a bit for late June onward," Seaney said, as airlines haven't yet unveiled their cheapest prices. "Those that wish to lock in tickets today should recall the drop in oil prices last summer."

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