A U.S. Senate panel approved legislation that would exempt Delta Air Lines Inc. (DAL), American Airlines’ parent AMR Corp. (AAMRQ) and other carriers from European Union greenhouse-gas limits the U.S. companies say would cost the airlines more than $3.1 billion by 2020.

The Senate Commerce Committee approved the legislation today during a meeting in Washington.

To contact the reporter on this story: William McQuillen in Washington at bmcquillen@bloomberg.net

To contact the editor responsible for this story: Steve Geimann at sgeimann@bloomberg.net