EU PUSHES US TO RELAX FOREIGN OWNERSHIP RULES

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By TESTCustomwebLP TESTCustomwebLP April 14, 2011 08:48

EU PUSHES US TO RELAX FOREIGN OWNERSHIP RULES

Europe was the United States to ease restrictions on foreign ownership of airlines, which is currently limited to 255 of voting stock.

In Washington DC, European Commission Vice President Siim Kallas stated that access to a steady stream of capital is vital for the industry and that such limits inhibit growth and limits industry potential in a global economy.

Airline ownership is an unresolved sore spot from landmark European Union/U.S. aviation agreements to boost competition in trans-Atlantic markets.

Kallas was attending talks with US House of Representatives Transportation Committee Chairman John Mica but left with no illusions that the status quo will change any time soon.

“There is no assurance things will move, but the understanding is constructive,” Kallas said.

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By TESTCustomwebLP TESTCustomwebLP April 14, 2011 08:48
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