Foreign Control of Skies Debated
Overseas investments in U.S. airlines challenged
When the DOT proposed amending the foreign ownership rules last year, British Airways CEO Willie Walsh said that rules restricting foreign ownership hinder airline industry growth. He spoke to Business Travel News.
"Because government regulations have had a lot to say about foreign ownership and control -- where in most cases it cannot exceed 49 percent, or in the case of the United States, 25 percent -- we have not seen cross-national mergers and sensible economic rationalization that we see in every other global industry," Walsh said.
The DOT's proposed foreign ownership rulemaking is in limbo today, but it could be brought back to life, lawmakers said.
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