<Li> Reported by the joint conference committee on October 12, 1978; agreed to by the House on October 14, 1978 (356--6) and by the Senate on October 14, 1978 (82--4) </Li> <Li> Signed into law by President Jimmy Carter on October 24, 1978 </Li> <P> The Airline Deregulation Act is a 1978 United States federal law that deregulated the airline industry in the United States, removing U.S. federal government control over such areas as fares, routes and market entry of new airlines, introducing a free market in the commercial airline industry and leading to a great increase in the number of flights, a decrease in fares, and an increase in the number of passengers and miles flown . The Civil Aeronautics Board's powers of regulation were phased out, but the Act did not diminish the regulatory powers of the Federal Aviation Administration (FAA) over all aspects of aviation safety . </P> <P> Since 1938, the federal Civil Aeronautics Board (CAB) had regulated all domestic interstate air transport routes as a public utility, setting fares, routes, and schedules . Airlines that flew only intrastate routes, however, were not regulated by the CAB . Those airlines were regulated by the governments of the states in which they operated . The CAB promoted air travel, for instance by generally attempting to hold fares down in the short - haul market, to be subsidized by higher fares in the long - haul market . The CAB also was obliged to ensure that the airlines had a reasonable rate of return . </P>

Abolished in 1985 which agency regulates competition in the airline industry
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