ATA and AirTran support legislation to limit oil speculation
Air Transport Association (ATA) announced (20-Apr-2010) support for the “Wall Street Transparency and Accountability Act of 2010", enacted to increase transparency and tough regulatory oversight of derivatives trading and commodities markets and end abusive trading practices. [more] AirTran also announced (20-Apr-2010) its support of legislation introduced by US Senator Blanche Lincoln to limit excessive speculation in the oil markets and put Main Street's interests ahead of Wall Street's. [more]
AirTran: "The rampant and unregulated speculation in this commodity has crippled and handicapped the US airline industry while severely impacting the US consumer. We need to let supply and demand determine what consumers pay, not speculators in an unregulated environment." Bob Fornaro, President and Chief Executive Officer of AirTran. Source: Company statement.