Last week the Department of Transportation announced a set of regulations that it calls “Enhancing Airline Passsenger Protections II,” the “II” referring to the fact that similar “protections” were imposed more than a year ago and are now being expanded. The new regulations are summarized in an article in the New York Times published on April 20. Accompanying the new regulations is a study by a pair of economic-consulting firms (one of them the well-known Econometrica) that purports to quantify the financial benefits of the regulations and concludes that they are modest but positive. Here is the study’s summary of the requirements imposed on airlines by the new regulation:
The characteristic of Airline Industry is interesting!