Abstract
Airlines are constrained by the ownership and control rules contained in nearly all bilateral Air Services Agreements. This paper aims to provide details of the ways in which ownership rules around the world have evolved and how governments and carriers have responded to these changes. Some famous cases involving US Department of Transportation's decisions on foreign investment and developments in the US's open skies policy have been studied. The influences of the decisions of the European Court of Justice on open skies agreements and the recent European Commission mandate are analysed. Prospects for easing ownership rules under bilateral, multilateral and plurilateral arrangements are discussed. It concludes that International Civil Aviation Organisation's view expressed at its recent Worldwide Air Transport Conference presents a practical solution for changing the ownership rules.
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