European ownership safeguarded under new UK-US open skies

UK based airlines will be able to remain owned by UK, EU and European Economic Area shareholders rather than by UK nationals alone after Brexit, under the terms of the new air services agreement struck with the US. The text of the new agreement shows that after Brexit UK registered airline will need to be able to demonstrate that “substantial” ownership remains vested in the country or "one or more" states that were party to the EEAA Agreement as of 28 Nov 2018. In additional those shareholders must be resident of "one or more" states that have a "modern liberal" air transport agreement with the US. The two sides also declared that they recognise the benefits that can arise when open markets are accompanied by "high labour standards with respect to international air transportation". <br/>