By Linda Tancs
Following up on an earlier post on the EU/US Open Skies Agreement, a recent accord affirms the earlier agreement between the EU and US to allow route demand to dictate service offerings between airports in the US and EU and allows EU carriers the right to fly between US cities without originating in the EU. Moreover, the revisited agreement proposes that allowances for foreign ownership of US carriers be increased beyond the current 25% cap, considering that US ownership of EU carriers is capped at 49%. Harmonization in this area will require legislation that is unlikely to be in the offing considering other global crises at present. The parties have agreed to harmonize fuel emission standards, however. Overall, reports indicate that the agreement is supposed to produce almost $15 billion dollars in economic benefits and up to 80,000 new jobs. Let’s hope so.
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