The US organisation representing the leading U.S. airlines, Airlines for America (A4A) is celebrating the 40th anniversary of the Airline Deregulation Act, which opened the doors to far more airlines able to ply for trade leading to innovation, competition and consumer choice for the US travelling and shipping public.
On October 24, 1978, President Jimmy Carter signed the Airline Deregulation Act into law, eliminating government restrictions on domestic routes, ticket prices and competition from new carriers that wanted to enter the market. "Forty years ago, this landmark legislation ushered in a new era of consumer choice, affordable fares and customer value for millions of Americans," said A4A President and CEO Nick Calio. "Competition in the industry is driving airfares down to historic lows. Just last week, the Bureau of Transportation and Statistics announced that in real terms average domestic airfare was $349 in the second quarter of 2018 -- the lowest second quarter on record."
Americans are flying in record numbers. U.S. airlines are flying more than 2.3 million passengers daily, and shipping more than 55,000 tons of cargo to 800 airports in 80 countries. Additionally, commercial aviation delivers economic value, with U.S. carriers alone directly employing 720,000 workers and accounting for 5% of the country's gross domestic product (GDP).
