PARIS–The European Union (EU) and the U.S. are moving closer to a long-awaited agreement to remove time limits from wet-leasing contracts after the European Council gave the European Commission the green light to negotiate with its U.S. counterpart. The EU and the U.S. have been in disagreement over wet-leasing since 2008, when the EU imposed a time limit–of seven months, renewable once–on how long EU carriers could wet-lease aircraft from non-EU carriers, prompting the ...

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