The Department of Transportation Office of the Inspector General issued a report on the Federal Aviation Administration's (FAAs) oversight of the changes network air carriers are making in response to financial challenges and FAAs oversight of the growth of low cost air carriers. FAA has made progress in implementing risk based oversight systems, but these systems were not flexible and comprehensive enough to permit FAA to adequately monitor the changes in the industry. FAA's budgetary challenges may lead to the loss of safety inspectors, increasing fear of potential risks in the midst of increased flights and less time on the runway for inspections. The report states that stresses on the industry might pose serious problems.
Report No. AV-2005-062
Federal Aviation Administration: http://www.oig.dot.gov