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US to relax airline ownership rules?
A relaxation of rules limiting foreign investment in US airlines has been signalled by Washington.
The US Department of Transportation said it would end the strict interpretation of existing laws which bars almost any infulence of overseas investors in the running of the country’s airlines.
But, according to the Financial Times, this will not change current ownership restrictions in the short to medium term which limit holdings to a 25% voting stake and up to 49% in equity capital.
The proposal would only apply to countries with an open-skies deal with the US and reciprocal investment regimes, the FT reported.
The DoT’s policy under secretary Jeff Shane was reported as saying: “The statute really has become an impediment to cross-border co-operation.”
The plan could help smooth ongoing open skies talks between the US and European Union which are due to resume on November 14.
Report by Phil Davies
Phil Davies
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