Major airlines said Monday they oppose a new effort to advance legislation that would reduce fees charged by Visa V.N and Mastercard MA.N on transactions, saying the bill could force them to stop offering rewards credit cards that give consumers frequent flyer miles for making transactions.
American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N and others including Boeing BA.N, Airbus AIR.PA, RTX RTX.N and GE Aerospace GE.N, said in a letter to senators the legislation sponsored by Senators Dick Durbin and Roger Marshall could sharply reduce air travel and harm overall tourism. Also signing the letter were aviation unions.
