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Airlines to Reap $1.3 Billion Fare ‘Windfall’ Amid FAA Limbo

U.S. airlines led by United Continental Holdings Inc. may pocket $1.3 billion in higher fares tied to the Federal Aviation Administration’s partial shutdown as Congress deadlocks on the agency’s funding.

The FAA already has been unable to collect $28.6 million a day in aviation taxes since midnight on July 22. Missed receipts may climb by $1 billion if the matter remains unresolved until lawmakers reconvene in September, FAA Administrator Randy Babbitt said. President Barack Obama today urged congressional leaders to reach a resolution this week.