FredEx Praises Ownership Move
11-05-2005, 07:52 AM
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FredEx Praises Ownership Move
FedEx Praises Ownership Move
Express giant FedEx on Friday praised a United States government move to liberalize foreign investment in U.S. airlines.
The U.S. Department of Transportation, looking to bring more capital into the troubled American airline industry, said Thursday that it would give non-U.S. airlines greater ability to take ownership stakes in American carriers. That would include more ability to exercise some control on operations, although areas such as security would have to remain under the eyes of U.S. directors.
The change would apply to countries that grant similar access too U.S. citizens.
"This is a step in the right direction and we welcome the DOT's decision," FedEx said in a statement. "We certainly support the reciprocal arrangement where international entities may invest and participate in the management of U.S. carriers as long as those same rights are provided to US carriers wishing to participate in international airlines as well."
The cargo carrier said the proposal "should help encourage countries which have not yet adopted an 'open skies' agreement, to do so."
Express giant FedEx on Friday praised a United States government move to liberalize foreign investment in U.S. airlines.
The U.S. Department of Transportation, looking to bring more capital into the troubled American airline industry, said Thursday that it would give non-U.S. airlines greater ability to take ownership stakes in American carriers. That would include more ability to exercise some control on operations, although areas such as security would have to remain under the eyes of U.S. directors.
The change would apply to countries that grant similar access too U.S. citizens.
"This is a step in the right direction and we welcome the DOT's decision," FedEx said in a statement. "We certainly support the reciprocal arrangement where international entities may invest and participate in the management of U.S. carriers as long as those same rights are provided to US carriers wishing to participate in international airlines as well."
The cargo carrier said the proposal "should help encourage countries which have not yet adopted an 'open skies' agreement, to do so."
