U.S., E.U. Draft Transatlantic Open Skies Agreement

Law360, New York (March 2, 2007, 12:00 AM EST) -- After years of negotiations, the United States and the European Union on Friday agreed on a preliminary deal that, if approved by each side, will make strides towards liberalizing the transatlantic aviation market.

Since 2004, the two parties have been working on negotiating an E.U.-wide agreement to replace bilateral air agreements the U.S. currently has in place with various member states. The European Court of Justice has declared existing agreements illegal, while many member states don’t have any agreements with the U.S. at all.

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