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U.S., E.U. fly for open sky: transatlantic negotiating, part one.

Article Excerpt
Negotiators from the United States and the European Union next month will begin the arduous task of creating an open aviation area spanning the Atlantic and integrating the world's two largest commercial air markets. If completed, the liberalized framework would replace existing agreements between the United States and individual European states, including the generation-old Bermuda II treaty with the United Kingdom, and likely would include easier avenues for cross-border mergers, foreign investment and restructured rules governing market access for airlines on both sides of the pond.

"Foreign ownership is not the most important topic," said Leo van Wijk, CEO of KLM Royal Dutch Airlines. "What is most important is that there is a level playing field. The whole environment is much more ready than last year for a firm and final decision." Van Wijk added that European Commission leaders are determined to resolve the issue before their current terms expire next summer. "There still are quite a few issues that national governments can influence, favoring national airlines," he continued. "We need this agreement between the E.U. and the U.S. because it will accelerate the process with countries like China and Japan."

Developments among Europe's key players, meanwhile, will impact the transatlantic business travel market in many ways, from significant changes in...

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