Cheap airplane tickets and cheap vacation packages should continue to be available as a result of an aviation agreement between the U.S. and EU (European Union) which allows carriers to fly more freely between both continents. Increasing unimpeded travel encourages competition which places downwards pressures on prices. Included in this agreement is promise of greater cooperation between countries on security issues.
The DOT (Department of Transportation) announced that the U.S. and EU have agreed that the terms of the original 2007 pact will continue indefinitely. The 07 accord eliminated restrictions on flights between the U.S. and EU member countries, allowing carriers to select routes and destinations without limiting the number of U.S. or EU airlines allowed to fly between the two markets or the number of flights they operate.
The new pact provides greater flexibility for U.S. airlines regarding local restrictions on night flights at EU airports.
This agreement does not change existing statues which limit foreign ownership in U.S. airlines to 25 percent of the voting interest in the airline and forbid foreign control of U.S. carriers.
This pact is seen as a critical step in allowing U.S. and EU airlines to from joint ventures to share costs, revenue and coordinate flight schedules.
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