Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

FAA waives minimum flight requirements at some U.S. airports through March

Published 10/05/2020, 05:03 PM
Updated 10/05/2020, 06:20 PM
© Reuters. FILE PHOTO: American Airlines planes are parked at the gate during the coronavirus disease (COVID-19) outbreak  in Washington

By David Shepardson

WASHINGTON (Reuters) - The Federal Aviation Administration aid on Monday it would extend temporary waivers of minimum flight requirements at some major U.S. airports through late March 2021 because of the coronavirus pandemic.

Airlines can lose their slots at congested airports if they do not use them at least 80% of the time. The FAA said it would extend the waivers at New York's John F. Kennedy and LaGuardia airports and Ronald Reagan Washington National Airport that were set to expire in October.

At four other U.S. airports where the FAA has a formal schedule-review process - Chicago O’Hare, Newark, New Jersey, Los Angeles and San Francisco - the agency proposes to extend credits to airlines for flights that were canceled due to the coronavirus as though those flights were operated through Dec. 31.

Major airline groups cited "historically low levels of bookings, with overall bookings down 82% year-on-year for 2020 compared to the outlook for 2019; consumer demand that continues to fall ... and the need for schedule flexibility to support sustainable loads."

The FAA, which first proposed the extensions on Sept. 11, said on Monday it "seeks to ensure the efficient use of valuable aviation infrastructure and maximize the benefits to both airport users and the traveling public."

United Airlines (O:UAL) praised the FAA decision "to harmonize procedures and timelines for all airports, which will help provide more stability and certainty during this historic pandemic."

Spirit Airlines (N:SAVE) said it opposed the FAA’s proposal in its entirety as "unacceptably protective of dominant

© Reuters. FILE PHOTO: American Airlines planes are parked at the gate during the coronavirus disease (COVID-19) outbreak  in Washington

incumbent carriers at the expense of the traveling public and of low-cost carriers ready and willing to serve."

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.