The commission is hereby vested with the power and authority, and it is hereby made its duty, after consultation with the director, to fix just, fair, reasonable and sufficient rates, fares and charges and classifications, and to alter and amend the same, and to prescribe such rules and regulations for air carriers as may be necessary to provide for adequate service and safety of operations, and to require the filing of such reports and other data with the commission as may be necessary, and to adopt such other rules and regulations as may be necessary to govern the relationship between such air carriers and the traveling and shipping public. Such rules and regulations shall be adopted and promulgated by general order of the commission.