New EU – US open skies deal signed
25.06.10
EU transport ministers have signed a second ‘open skies’ agreement with the US at a meeting in Luxembourg. The new deal, which follows the first open skies agreement of 2007, is designed to make it easier for US and European airlines to buy each other. EU Transport Commissioner Siim Kallas welcomed the deal, calling it good news for passengers and airlines.
Currently there are limits to foreign ownership of US and EU airlines. European carriers can only own 25% of US airlines, whilst US carriers can take 49.9% stakes in their European competitors. The deal should see those limits raised, though the new levels have yet to be decided. The provisionally agreed deal could also still be blocked by US lawmakers, who would need to approve new legislation to allow foreign owners to increase their stakes in US airlines, which has been a bone of deep contention in the past.
The new agreement also includes plans for closer cooperation on environmental matters, including carbon trading schemes.
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