Airlines for America (A4A) is commemorating the 40th anniversary of the Airline Deregulation Act, which the group states ‘opened the doors to innovation, competition and consumer choice for the traveling 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.”
“Lower fares help make air travel accessible for a wide range of travelers. Forty percent of air travelers have family incomes under $50,000 and 58 percent have combined incomes under $75,000.
Once a luxury only few could afford, in 2017, nearly 90 percent of the people in this country can say they have flown at least once in their lifetime – that’s truly remarkable,” Calio continued.