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US carriers cry out to Congress

In a sign of an increasingly desperate US airline industry, the Air Transport Association of America (ATA), has made an urgent plea to Congress to act on what it called the “overwhelming odds now favouring index speculators” in the oil market. ATA President, James May, added, “we are asking for Congress to take steps now – not 60 to 90 days from now – to totally close the loopholes and make the market more transparent and balanced, to ensure a level playing field for all”.

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