All of the investment options outpaced the rate of inflation in 1998, which was about 1.3 percent. ATA responds . The ATA was responding to the Department of Transportation's call for comments on the effect of airport leasing and financing practices on airline competition. The ATA applauded the DOT's call for a government-industry dialogue, but also said the DOT should focus on the need for improvements in airspace management and, in certain locations, runway capacity to meet expected flight increases in the coming years. Air traffic control and other capacity enhancements to reduce these delays should be the focal point of government action, the ATA said.
Airlines experience strong third quarter.
Every major U.S. carrier except Northwest Airlines recorded an operating profit for the third quarter of 1998, and all majors except Northwest and TWA earned a net profit, the Department of Transportation reported. Northwest's financial results reflected a 15-day pilots' strike that shut down the carrier. Much of these declines were the result of sharp losses reported by Northwest due to the strike. Secretary of Transportation Rodney E. Slater cited a strong economy, rising passenger demand and low oil prices as key factors in the airlines' performances. The deadline for FAA Technology Transfer Awards nominations closes Feb. 26.