U.S., European Union Reach Deal to Lift Flight Limits
Nov. 18 (Bloomberg) -- The U.S. and European Union agreed to end restrictions on where airlines can fly to boost competition in the $18 billion trans-Atlantic aviation market.
The accord was reached today in Washington after two years of talks. The agreement may take effect as early as October 2006 if all 25 European transport ministers approve, the U.S. and EU said in a joint statement. The agreement lets European carriers such as Air France-KLM Group fly to the U.S. from any European city, and it removes limits on the number of carriers that can fly between the U.S. and London's Heathrow Airport, the world's third busiest. It also would end restrictions on the types of aircraft that carriers can use and the prices they can charge.
``This agreement would bring nearly 750 million people and 26 countries together to comprise the largest and most lucrative open aviation market ever created,'' U.S. Transportation Secretary Norman Mineta said in a statement. Daniel Calleja, the European Commission's director for air transport, told reporters in a conference call, ``We were very pleased that negotiations were successful.''
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