Continental Airlines (NYSE:CAL) plans to cancel flights rather than risk rigid fines. The new rules arose because of passengers’ dissatisfaction over many incidents. Continental Airlines trades on the “New York Stock Exchange” under the stock symbol “CAL”. For the Latest information regarding “CAL”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Continental Airlines (NYSE:CAL) plans to cancel flights rather than risk rigid fines under new federal policy designed to punish carriers for delaying passengers. CEO, Jeff Smisek said Tuesday the result will be that passengers will have more trouble getting to their destinations.
A spokesman for the U.S. Transportation Department said airlines can avoid fines by doing a better job of scheduling flights and crews. Under a Transportation Department rule taking effect next month, airlines can be fined up to $27,500 per passenger if planes are delayed three hours and passengers can't get off.
Transportation Department spokesman Bill Mosley said the new rules will help consumers pick airlines that don't have tarmac delays or that routinely cancel their flights.
"Carriers have it within their power to schedule their flights more realistically, to have spare aircraft and crews available to avoid cancellations" and to rebook passengers when there are cancellations, Mosley said.
The new rules arose because of passenger dissatisfaction over incidents in which planes were stuck on the tarmac for hours before takeoff. With Congress considering legislation to crack down on delays, the Transportation Department imposed its own 3-hour rule, including fines of up to $27,500 per passenger.
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