Air Transport Association Applauds Enactment of Wall Street Reform Legislation

Association Will Remain Engaged in CFTC Regulatory Process

WASHINGTON, July 21 /PRNewswire-USNewswire/ -- The Air Transport Association of America (ATA), the industry trade organization for the leading U.S. airlines, today applauded President Obama for signing the Restoring American Financial Stability Act of 2010.

ATA President and CEO James C. May, who attended today's signing ceremony by White House invitation, said, "We applaud President Obama for bringing an end to manipulation of the oil markets. Sen. Blanche Lincoln and Rep. Colin Peterson's leadership led to enactment of a law that will put an end to Wall Street's excessive gambling on oil prices, which has hurt consumers, passengers and the U.S. economy.

"Our efforts will not end with enactment," May said. "We thank Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler for the significant steps that he has taken to ensure thorough oversight of the commodities markets. We will remain engaged in the CFTC regulatory process to ensure that the implementation and enforcement of the law's limitations on speculators are made."

ATA airline members and their affiliates transport more than 90 percent of all U.S. airline passenger and cargo traffic. For additional industry information, visit www.airlines.org. ATA leads the Stop Oil Speculation Now campaign, a multi-industry coalition of businesses, labor groups, associations and concerned citizens united in support of responsible energy policies and prices.

SOURCE Air Transport Association