EU, US Negotiators Reach Aviation Accord

Negotiators for the European Union and the United States today agreed on a draft aviation agreement that appears to address European concerns about U.S. airline ownership and market access. The agreement now will be presented to the EU Transport Council and the U.S. Congress.

"By eliminating the bilateral agreements and their restrictions on traffic rights," Jacques Barrot, European Commission vice president of Transport, "we can already obtain a reduction in the cost of tickets for companies and private customers, with consolidated economic benefits of between €6.4 billion and €12 billion over a five-year period."