EU-US open skies moves to next phase

6/28/2010 10:16:12 AM

The EU and the United States have signed a permanent "open skies" agreement that opens the way for more foreign ownership of their airlines.   A 2007 "open skies" deal eliminated air services restrictions between the United States and Europe, allowing airlines to fly for the first time between any EU city and any US city.   Now European airlines can take majority stakes in US companies, and eventually, US firms will be able to do the same in Europe.   EU companies currently can hold no more than a 25 per cent stake in their US counterparts.   US operators on the other hand are already are allowed to control 49 per cent of European carriers.   The new deal also allows European planes to fly in and out of the United States without landing or taking off in the EU.     Aircargo Asia Pacific

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