Continental Airlines Commercial, Circa 1976
Prior to the Airline Deregulation Act of 1978, the fares, routes, schedules, and establishment of commercial airliners were controlled by the federal Civil Aeronautics Board (CAB). While regulation meant smaller profits for the airliners, it also meant guaranteed profits: the result amounted to a monopoly that was “too big to fail.” The supposed “golden age” of air travel, as depicted in the commercial above, was actually the result of so many half-empty planes in the sky…









