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Continental pledges to fight foreign investment move
Continental Airlines will oppose attempts to give foreign investors more influence in how US carriers are run.
The airline’s president Jeff Smisek reportedly told aviation analysts: “We intend to challenge it in court” suggesting the proposals were unworkable.
His comments, reported by the BBC, follow the US government revealing in November that it was considering ways of boosting foreign investment in the country’s airlines which have suffering massive financial losses. This includes allowing overseas airlines being given a more active role in the decision making of US carriers but not so far as lifting ownership limits.
Smisek said he was not opposed to US airlines being given more scope to raise money from foreign investors.
But he said the US governmet was trying to reinterpret legislation on control of airlines without refernece to Congress as part of efforts to negotiate an ‘open skies’ aviation agreement with Europe, according to the BBC report.
Report by Phil Davies
Phil Davies
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