Proposed Credit Card Rate Cap: A Turbulent Path for Airlines?

The proposal to cap credit-card interest rates at 10% could significantly impact the aviation industry, warns the CEO of Airlines for America. He foresees a reduction in passenger numbers and aircraft availability. This comes as President Donald Trump calls for the implementation of the cap starting January 20.

The aviation industry might face significant challenges if a proposal to cap credit-card interest rates at 10% becomes a reality, as per warning from the head of a major U.S. airlines trade group.

Chris Sununu, CEO of Airlines for America, emphasized the potential consequences during an aviation summit, indicating that such a move could decrease passenger numbers and aircraft availability.

He expressed concerns following President Donald Trump's announcement on January 10, advocating for the one-year interest cap starting January 20, which could ripple through the industry's economic framework.

(With inputs from agencies.)