Getting your player ready...
Washington – A U.S.-European Union aviation agreement will collapse if Congress blocks an effort to increase foreign investment in U.S. airlines, a State Department official told a House subcommittee Wednesday.
The accord, which may take effect in October, “would be dead for a year” should Congress enact legislation blocking a proposed Transportation Department rule on foreign ownership, said John Byerly, a State Department deputy assistant secretary.
Under a Nov. 18 agreement, European carriers such as Air France-KLM Group would be able to fly to the U.S. from any European city, and additional carriers such as Delta would be allowed to fly between the U.S. and London’s Heathrow Airport.
