Deregulation of major industries in the United States began in the 1970s and spread to the United Kingdom and, to a lesser extent, to the European continent.

Airline deregulation in the United States officially began with the signing of the Airline Deregulation Act on October 24, 1978, by President Jimmy Carter. This landmark legislation removed federal control over fares, routes, and the entry of new airlines into the market, which had been strictly regulated by the Civil Aeronautics Board (CAB) since 1938. The process was not an overnight change but a phased-in liberalization of the industry. By 1981, restrictions on domestic routes were completely lifted, and by 1983, the CAB lost its authority over airfares. The Civil Aeronautics Board itself was eventually abolished on December 31, 1984, marking the end of the transition period. This "start" in 1978 triggered a global trend, with the United Kingdom and much of Europe following suit with their own liberalization acts in the 1980s and 1990s. The 1978 act remains the most significant turning point in aviation history, transforming the industry from a government-controlled utility into a competitive, market-driven global commerce engine.