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WASHINGTON (AP) - European companies would be allowed larger stakes in U.S. airlines under a tentative agreement reached Friday between the U.S. and European Union. It also would give carriers more freedom to choose trans-Atlantic routes and potentially lead to lower fares.
The agreement, announced by the Transportation Department, would allow European airlines to fly from anywhere in the EU to any point in the U.S., and vice versa. For example, it would end restrictions on the number of airlines allowed to fly between the U.S. and London's Heathrow Airport, one of the world's busiest. Only four carriers — United Airlines, American Airlines, British Airways and Virgin Atlantic — now serve that market.
Transportation Secretary Mary E. Peters said the agreement "will offer more choice and convenience to American consumers."
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