Watch Live: President Trump Announces Plan to Privatize Air Traffic Control

Jun 05, 2017

President Donald Trump will announce his plan to privatize U.S. air traffic control—a process currently under the Federal Aviation Administration—in a Monday speech.

Airlines in the country have been lobbying to take over the system themselves, and White House officials have said this move will lead to modernizing air traffic control technology more quickly than if it remains under the government. Trump will make the announcement with support from executives of U.S. airlines, the AP reports.

Trump announced the goal in a budget the White House released in March, when he called the system "obsolete" and proposed cutting the Department of Transportation's budget by 13%.

Watch Trump's live remarks in the video above starting at 11:30 a.m. ET.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions