ARLINGTON, Virginia – The chief executive of the organization that represents America’s major airlines warned on Thursday that President Trump’s plan to limit credit card interest rates to 10% could severely impact the aviation sector, potentially resulting in reduced air travel and aircraft operations.
Airlines for America CEO Chris Sununu expressed concerns during an aviation industry conference, stating the proposed restrictions could create widespread economic consequences for airlines. “If they start capping credit cards at 10% or start minimizing the small 2% fee that they get charged on the credit cards, it’ll have a massive repercussion, economic effect across this industry,” Sununu explained at the Virginia gathering.
The warning comes after President Trump announced on January 10th his intention to implement a temporary one-year limit on credit card interest rates, set to begin on January 20th. The proposed policy would establish the 10% ceiling across the financial sector.
