To reach this milestone we need to put more effort into all aspects of aviation safety. As the number of trips taken by individual travelers approaches one billion annually in the decade ahead, it will be essential for this safest of all modes of travel to move to 'higher heights' and become even more efficient than ever. That is why we are working hard to modernize the Air Traffic Control System. We are also working hard to upgrade America's airports. A significant portion of the funds released this week will go to help regional airports vital to the economic prospects of rural America.
Aviation is also an area of major activity on the competition front.
Deregulation has been a resounding success. Adjusted for inflation, fares today are one-third less than in 1978. And competition has led to increases in airline efficiency that has resulted in making U.S. carriers the world's leading airlines. But residents of rural America and many smaller cites and towns have yet to share in the full benefits of deregulation. We've put the airlines on notice that if they seek to drive a competitor out of a market in order to keep airfares high, we will take action.