"The regulation of modern civil aviation can be traced back to the later years of the Second World War. An intense debate about the future regulatory regime resulted in a compromise which to this day essentially dictates the structure of the global airline industry. Further progress towards...

The paper examines the impact of removing the restrictions remaining in EU/US bilateral air service agreements, the major one relating to the air services between the US and the UK. These are dismantled under Stage I of the EU/US Open Skies agreement, which will automatically fall unless...