Open Skies to Europe

Canada and the European Union finalized an air services agreement that will liberalize transatlantic flights and pave the way for increased foreign ownership, Canwest News reported.

Published: Wednesday, 12/10/2008 12:00 am EST

Canada and the European Union finalized an air services agreement that will liberalize transatlantic flights and pave the way for increased foreign ownership, Canwest News reported. The multi-phased pact will initially allow European and Canadian carriers to operate unlimited direct service between any point in each others' market, and allow foreigners to own 49 per cent of voting airline stock, up from the current 25 per cent. Later phases will also allow foreign carriers to fly between two points in each others' markets. "It is groundbreaking in the aviation world as the agreement includes all possible aspects of aviation, including investment," EU Transport Commissioner Antonio Tajani said.

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