Overseas property news - Open skies soaring to success?

Open skies soaring to success?

The recent Open Skies agreement has had an immediate impact on air travel…

According to industry experts, air travel between London Heathrow Airport and the US is now easier and cheaper as a result of the agreement, which was signed on March 30, 2008 following years of legal tussles between the EU and the US.

Prior to the agreement, strict regulations restricted the number of airlines operating transatlantic flights from Heathrow to just four - British Airways, Virgin Atlantic, American and United.

Six weeks on and major US carriers such as Continental, Delta and Northwest have already introduced services running between the world's busiest international airport and number-one global superpower. And from June 2008, flyers will be able to choose from 95 separate flights a day linking the two countries - 18 more than a year ago.

Market opening up

According to new research by Sabre Airline Solutions, consumers are already benefiting from the Change. Chris Spidle, research director at the company, explained: "For years, airlines have wanted to add service in this market and couldn't because of regulatory reasons. Now, they've rushed headlong into the market.

“The average return fare paid by a US traveller flying from Heathrow is now $1,162 (£597) - a four per cent reduction against last year's prices, which totally confounds the fuel price hikes that have driven up fares for Europe-bound Heathrow services by an average of nine per cent.

“On top of the financial savings, travellers are also now benefiting from the convenience of being able to fly direct to the British capital, with many having previously relied on Gatwick services in order to retain the benefits of using their preferred carrier”.

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