But the agreement reached yesterday goes further

European investors should soon be allowed to take control of American Airlines. Almost a year and eight sessions of negotiations after language in May 2008, the European Union and the United States indeed concluded yesterday, a second agreement for liberalization of air traffic between the two shores of the Atlantic, which opens more widely the capital of the U.S. carriers. A major advance for a market representing about 60 percent of world air transport, but which must still be approved by the Council of Ministers, the Parliament in Strasbourg and the US Congress.

So far, the Europeans could not acquire more than 25 of an American company. The new agreement provides that the United States undertake to amend their legislation to allow "outlets of majority holdings. A support for the US Congress to set the new ceiling, at a level which will be greater than 50. In Brussels, it is estimated that this legislative process could take a year or two. As soon as the United States will have joined the gesture the floor, the European Union to align enhancing at the same level the ceiling limiting the weight of the US shareholders in European companies, which is now attached to 49.9.

The possibility to invest freely in the United States was part of the conditions laid down by the United Kingdom to the ratification of the agreement to open March 2008. This text was open to European companies the opportunity to serve the United States from any city of the old Continent, not only from their country of origin. But it was also translated by the opening of London Heathrow Airport to all of US companies. Therefore, a refusal of Washington on the question of the detention of the capital could question the open sky. But the agreement reached yesterday goes further.

As soon as US legislation will be amended, transatlantic carriers will also have new rights. They will be able to operate flights from Europe to third countries, without that aircraft are forced to take off initially, and American soil for freight and for passengers as well. They can also retain the rights of access to the European market for the airlines of third countries which come to acquire.

The agreement also provides for strengthening cooperation between Europe and the United States in the field of the environment. "The United States send a clear message, explains in Brussels. They undertake to work on compatibility and the interaction of the European and US markets of carbon in the air sector, avoiding duplicates.

Regular monitoring of progress

The Americans have also obtained to be informed about 150 days in advance of the restrictive measures taken at national level to limit noise at airports - including at the expense of their night cargo flights. Consultation should be launched to all stakeholders and the American companies may request explanations to ensure that the decision is justified. Longer term, the European Union promises to change its legislation if this procedure is not applied systematically, by acquiring supervisory powers which it is today without. If it were to legislate in this sense, European air carriers get to turn the right to operate flights to third countries directly from the United States. The progress made in this new agreement will be regular, a priori annual follow-up.

Much progress was however not published satisfy the International Association of air transport (Iata), supporter of a complete and rapid liberalization of the sector. In a press release issued yesterday evening, the Iata referred to as "disappointing" this agreement, too progressive for his taste.