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.
- Country:
- United States
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.
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