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May 18, 2005

All Busines: Feds' influence over airlines on the rise

  • Federal agencies are involved in everything from pensions to loan guarantees to overseeing security at the nation's airports.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — Three decades ago, deregulation wiped out much of the government's heavy-handed control over the airline industry. Now some of Uncle Sam's control is creeping back in.

    Just last week, the federal government's Pension Benefit Guaranty Corp. agreed to take over United Airlines pensions in exchange for a financial stake in its parent company, UAL Corp. The move is key to the struggling airline's attempt to emerge from bankruptcy.


     
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