“Let European carriers buy US airlines”
European carriers should be allowed to buy struggling US airlines, according to the EU transport commissioner Jaques Barrot.
According to a report in today’s Financial Times, Barrot wants the US authorities to respond more favourably to the EU’s ownership demands “given the continued financial woes of US airlines”.
The newspaper reports that Barrot will visit the US later this month in the hope of resurrecting “open skies” talks.
He has stated that the issue of “cabotage” – foreign airlines having the right to fly on domestic routes inside the US – was no longer a priority for European carriers.
However, an alternative would be to allow European companies to buy into the US aviation sector or to set up local subsidiaries.
Last year US authorities offered European carriers the right to buy up to 49 per cent of American airlines, but the offer was dismissed by EU ministers.
Barrot reportedly told the Financial Times: “The Americans need to have investment in their companies, which are struggling, and because of their rules they are depriving themselves of capital. Questions like cabotage, which have perhaps monopolised too much attention, are not the major priority.”
Report by Tim Gillett, News From Abroad Ltd
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