You're right in that Part 2 will allow cabotage for EU carriers in the US. Our holy grail I suppose, access to the US domestic market.

I think Heathrow is the key to Part 1 (unfortunately as that is our home base) but it is so constrained that the impact of access by US carriers will be negligible. Slot swapping with EU shorthaul codeshare partners seems to be the trend. Ironically, while I agree that Part 1 benefits the main EU carriers, by allowing Part 1 to remain on it's own my company is likely to suffer as traditionally the EU favour France and Germany over the UK. I would be surprised if they repealed part 1 as it would disadvantage AF and LH whilst ensuring the strong position of BA.

As to Part 2, cabotage in the US, I can see why the US government would be reticent. However, as I understand it, US carriers now have these rights in the EU. How can we all ensure a level playing field? Do we want a level playing field?