Washington, June 13, 2003 - The Air Transport Association (ATA) Board of Directors, at a June 12 meeting, voted unanimously to support the Bush Administration`s proposal to increase permissible foreign ownership of U.S. airlines from the current 25 percent to 49 percent. This proposal would raise the maximum percentage of an air carrier`s voting stock that can be held by foreign citizens to 49 percent, but would not affect current law or Department of Transportation precedent that requires U.S. airlines to be controlled by U.S. citizens.
“This change has the potential to create greater access to the global capital marketplace for U.S. airlines and could bring U.S. foreign-investment regulations for airlines in line with those of other countries, including those of the European Union,” said ATA President and CEO James C. May.
The Air Transport Association of America, Inc. is the trade association for leading U.S. airlines. ATA members transport 95 percent of all passenger and cargo traffic in the United States.