Airline stocks soar as passengers suffer
WASHINGTON, DC - Airline lobbyists will have an increasingly hard time pleading poverty when promoting mergers and opposing consumer regulation in the coming months as airline stocks have skyrocketed
WASHINGTON, DC – Airline lobbyists will have an increasingly hard time pleading poverty when promoting mergers and opposing consumer regulation in the coming months as airline stocks have skyrocketed on average over 100% in the past year.
An analysis by FlyersRights.org, the largest airline passenger organization, found that US airlines rewarded their shareholders with eye popping stock price increases in the past year.
Paul Hudson, President of the group, called on Congress and the DOT to enact and enforce meaningful airline passenger protections, noting:
“Gotcha fees for everything, overcrowding, shrinking seats and legroom, reduced competition (due to mergers), coupled with aviation security abuses, have accelerated the downward spiral of the air travel experience.”
“It is high time for Congress to review the Airline Deregulation Act of 1978 that courts have interpreted to exempt airlines from all state and local consumer protection laws and for the US DOT to exercise its statutory power to prevent ‘unfair and deceptive’ airline practices.”
Flyersrights.org with 30,000 members operates a toll free hotline and tips line, publishes a weekly online newsletter, and advocates for airline passenger rights and interests.
It successfully advocated for the 3 hour rule prohibiting excessive tarmac delays and truth in scheduling rules enacted in 2010, as well as higher compensation for lost baggage and for bumping. In 2013, it successfully sought reversal of a TSA policy to allow knives back on airliners, called for a new safety review of the Boeing 787, and the ending of air traffic controller furloughs during sequestration.