Transatlantic liberalization took a giant step forward when the U.S. and European Union negotiated a new aviation accord last year, but since then progress toward a crucial second-stage agreement has slowed to a crawl. While the first-phase deal allowed a range of new opportunities for transatlantic flights, the second stage could potentially sweep away the remaining obstacles to a true open aviation market. And if no such agreement is reached, the gains from the first phase could be ...

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