Globally aviation is also growing and 1.5 billion passengers worldwide will fly this year. Worldwide air cargo is growing even faster, supporting an economy that's integrated worldwide and driven by the principle that time equals money. Many of you, like me, have our stories to tell about travel delays. Responding to this real concern, FAA took a hard look at the causes of delays and identified immediate steps to take. Without a concerted effort on all our parts, the gridlock could get worse.
Delays cost people and business time and money.
We have too many routes today where planes designed to fly 600 miles per hour are no more efficient in getting passengers and cargo from origin to destination than a plane flying 250 miles per hour. Forging Ahead with ATC Modernization One effort we have successfully mounted to avoid a kind of gridlock is FAA's response to the Y2K problem. With support from Congress, we should incorporate innovative funding mechanisms that will link aviation user fee funding to spending. And we need to increase FAA and airport flexibility to fund vital infrastructure projects and introduce new technology. To enhance safety and efficiency, we need to press ahead with FAA's modernization program.