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New York (CNN Business)Jet fuel prices are soaring along with other fuel costs. So are airfares.


Blame the return of passenger demand — rather than fuel prices — if you pay more for a flight this spring or summer.

The nation's leading airline executives appeared at a JPMorgan investor conference Tuesday and all spoke of the much stronger demand for air travel than they had been expecting only months ago. Delta (DAL) and American (AAL) both said they had record days for passengers bookings last week.

"We're seeing an increase in demand that is really unprecedented," said Delta president Glen Hauenstein. "I have never seen ... demand turn on so quickly as it has after Omicron."

The surge in demand is lifting fares by about $15 to $20 on a $200 ticket in the second quarter of this year. That represents about an 8% to 10% increase above what Delta had previously planned on charging for fares.

"It's really been the strong demand and better pricing environment ... [that has] allowed us to more than offset the fuel cost," Hauenstein said.