May 1, 1981 (Friday)
- The first frequent-flyer program was introduced, with American Airlines launching "AAdvantage." People flying on "AA" were rewarded with credits that could be amassed and used for free travel. Soon, other airlines followed suit.
- An 8-year old boy in Spain became the first victim of toxic oil syndrome, dying from acute respiratory insufficiency after eating food prepared in a cooking oil that contained aniline. Before the source was located, 20,643 cases were documented and 312 others died within the first year.
- U.S. Senator Harrison Williams of New Jersey was convicted on felony charges of bribery and conspiracy, and sentenced to 3 years in prison. Senator Williams refused to resign until his conviction was upheld on appeal, and quit on March 11, 1982.
- In response to pressure from the United States, Japan's Ministry of International Trade and Industry (MITI) enacted a voluntary restraint agreement (VRA), reducing the number of car sales to the U.S. to 1,680,000 units. The VRA remained in effect until March 1, 1985.
- Born: Alexander Hleb, Belarusian-born soccer football player, in Minsk
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