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Steven A. Morrison and Clifford Winston
Steven A. Morrison and Clifford Winston: Allowing foreign airliner would benefit everyone
- This fall the United States will celebrate the 30th anniversary of the Airline Deregulation Act of 1978 — and the nation does have reason to celebrate because airline deregulation has benefited both travelers and carriers. Among the most important benefits: Fares have fallen significantly, flight frequency has increased and carriers have become more efficient. Moreover, these benefits have been realized while air travel safety continues to improve. However, it would be misleading to conclude that the industry’s adjustment to deregulation — and the extent of deregulation — is complete. Airline industry earnings have fluctuated greatly since deregulation and the industry has yet to earn a normal rate of return on invested capital on a consistent basis. …