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LaGuardia may allow transcontinental flights

Airline stocks cheap for a reason: Trader

Regulators are considering scrapping a distance restriction on flights from New York's LaGuardia Airport, which could open up transcontinental travel from the airport, The Wall Street Journal reported.

A decades-old provision restricts flights longer than 1,500 miles from LaGuardia. The Port Authority of New York and New Jersey is evaluating the rule to see how it would affect air traffic and ticket prices, among other factors, according to the Journal.

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Flights from LaGuardia currently can't go all the way to cities such as Los Angeles, San Francisco and Las Vegas.

Lifting the restriction would require approval from the Port Authority's board of 11 commissioners, the Journal wrote.

Read The Wall Street Journal's full report here.