Political Quotes

“It is my understanding this amendment by the Senator from Kentucky would establish a new authorization level for the Federal Aviation Administration, which would revert to the level of 2008. I think it is worth noting that this may cut spending in some regards, but I do not believe it is a wise decision by the Senate to move in that direction. Our world has changed dramatically since 2008 and the world of aviation even more so. The aviation industry is not the same today by any means. We debated the FAA bill on the Senate floor in 2008. At that time, oil was $120 a barrel, and the airline industry was in the doldrums. Eight airlines either completely ceased operations or filed for bankruptcy that year. That cost 11,000 airline-related jobs in America. Airlines that weathered the financial storm lost millions of dollars because fuel costs were going through the roof. United Airlines, based in Chicago, which I am honored to represent, reported a $538 million loss that year, driven by a $618 million increase in fuel expenses. The airlines reacted to this market reality in 2008 by reducing capacity across the industry by 25 percent. Flights were reduced at airports all around the country. The point I am trying to make is, if we take a snapshot of the aviation industry in 2008, we would find an industry devastated by high fuel prices, still recovering from some of the episodes that followed after 2001, and dramatically cutting back its services across the United States.…”