PIA - A History: Events of 1980
To understand events of 1980, we must begin in late-1979. The completion of the Interstate 474 bypass (and Airport Road interchange) on December 20 that year expanded PIA's catchment area, but unfortunately failed to compensate for an increasingly difficult period in local aviation history. The UAW Local 974 struck area Caterpillar Tractor Company plant on October 1, 1979, forcing a reduction in manufacturing and logistics operations. The walkout ended in mid-December but reduced corporate (and probably leisure) travel, impacting passenger traffic at the Greater Peoria Airport. On October 6, 1979 the Federal Reserve changed its monetary policy as a means to slay inflation, resulting in much higher interest rates. Already suffering from rising unemployment, the national economy plunged into recession from January to July 1980. From May 5 through June 1, Ozark Air Lines was shut down due to a mechanic's strike. As a consequence of each event noted above, PIA passenger...

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