An EU-US "open skies" deal would bring together the world's two largest aviation markets, which represent more than 60% of global air traffic.
The EU expects that an agreement would generate an additional 8 billion euro per year in economic benefits due to increased competition and the creation of additional routes. However, the conclusion of a deal has been stalled over business and security concerns in the US about allowing foreign companies to control US airlines.
Security issues are at the root of various tensions in the aviation sector between the EU and the US. A full-scale crisis over the Atlantic loomed over the summer as EU and US negotiators failed to make progress on the renegotiation of an agreement relating to the transfer of passenger data, ruled illegal by the ECJ, before the set 30 September 2006 deadline.
According to the International Air Traffic Association (IATA), failure to conclude a deal by that date could have resulted in grounding 100,000 travellers per day. However, officials from both sides announced on 25 September 2006 that they are ready to sign a new deal before the deadline runs out.
According to press reports, the agreement would resemble a provisional extension of the previous one - still requiring EU airlines to pass on more than 30 pieces of information such as dietary requirements, credit card details, family links and addresses – but under a different legal basis so as to satisfy the ECJ.
