CO is doing the right thing by putting this modest increase through, the fuel costs have become a big problem for the airlines and yeilds, in general, are still not what they should be. The modest increase will not add more than 10% to the fare, and in most cases a lot less.
The price of filling up your car has just about doubled in the past year or so, so a +/- 10% increase in air fares is to be expected. CO
has been trying to get a fare increase through for several months but could not due to actions by other airlines.
Sometimes we forget that air travel must be realistically priced if airlines are to stay in business.