AIRLINES

Airlines Cut Fares: Americans will find plenty of bargains when they book summer airline tickets, but fares are still above the rock-bottom levels of last year, when recession-plagued carriers slashed prices. The latest domestic fare cuts hit the airline computer reservation systems this week, when America West Airlines reinstated its recent 30% summer fare sale. Although many ticket prices will be cut 30% this summer, a series of fare hikes implemented between last July and December has kept ticket prices above year-ago levels. Airlines cut fares as much as 50% last summer, a move that contributed to huge industry losses. A New York-San Francisco round-trip flight this summer will cost $398 under the latest fare structure, nearly double the $200 fare at the peak discount period last summer.