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Congress Just SCREWED you (again)

Say hello to foreign investment and rasing the ownership cap. Welcome Virgin and Ryan - for US pilots: your airline "career" just ended.

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WASHINGTON (Reuters) - Congress has agreed not to hold up a Bush administration proposal aimed at attracting foreign investment to U.S. airlines, despite security concerns among some lawmakers, officials said on Thursday.

Lawmakers negotiating emergency war spending and hurricane relief legislation have agreed to drop language from a bill that stipulates delaying the airline proposal for a year, House and Senate aides said. The language was the central obstacle to the proposal.

The decision cleared the way for the Transportation Department to finalize the change as early as this summer. It also keeps on track a tentative aviation agreement between U.S. and European Union negotiators to further open up transatlantic service.

A spokesman for the agency said transportation planners will "continue to move forward" with the proposal, which was introduced last November and updated several weeks ago to address congressional concerns.

The ownership law limits overseas investment to a maximum of 25 percent voting stock and little or no foreign influence on operating decisions, conditions that have discouraged foreigners from taking an interest U.S. carriers over the years, with a few exceptions.

The Transportation Department and other proponents say changing the restrictions on control are overdue to help an industry where four big airlines have fallen into bankruptcy since 2002 and high costs and losses continue to define much of the business.

They contend that giving foreigners influence over pricing, scheduling, fleet plans and other operating issues for their stake of up to 25 percent could expand the pool of investors in U.S. airlines, introduce new competition and enhance partnerships.

Previous attempts to ease the restrictions have withered on Capitol Hill and current congressional objections centered on national security concerns, which were sharpened by the Dubai Ports controversy this year.

Some lawmakers also objected to the potential impact foreign investment would have on labor unions and American jobs in general.

An open skies agreement with the EU would be great news for UPS pilots.

Quote:

Originally Posted by Browntail

An open skies agreement with the EU would be great news for UPS pilots.

Do you know any?

That Browntail, he is so cool. He reminds me of the Fonz.

SkyHigh

Congress always "Just screws us" I wonder if they have a cigarette after they're done?

Quote:

Originally Posted by Browntail

An open skies agreement with the EU would be great news for UPS pilots.

Actually Browntail is correct. There have been flights we have been locked out of flying because of this issue. If this finally goes through, it would open up more opertunities for us IPA pilots.

Former BWR - current Bus Driver

Browntail couldn't be more wrong. Foreign investment works both ways and legally kills scope. If UPS can buy 49% of the Pakistani UPS where, will future growth be? (3 seconds to think....... ) Remember, nothing within the "Global Economy" is good for us blue collar guys, even rich UPS drivers.

ask any merchant marine from the US or europe what foreing ownership did to them.

if foreing ownership is allowed, UPS or XCY AIR, can transfer certificates to bangladesh, were unions are not legal and you IPA goes to ****. Furthermore, it can hire rusian pilots at $30 /hour to do all the long haul international fligths, and when cabotage is approved, they can do domestic also. bye bye IPA and bye bye your job.

think it can't happen? it happened to the merchant marines in the US and EU years ago. this is the beggining. full ownership will follow, together with cabotage.

PS: you won't see any of the new intra-EU flying as it will be done mostly by contractors? think not?.....keep dreaming.

It really is amazing that people still buy into the the "global economy" BS The only people to do well with a global economy are the top brass, and for a very short term some stockholders. Everyone else gets screwed. "Yep I lost my job, but I saved 10 cents on the widget at Wallmart"

Just try and name once instance that selling off the US and its companies offshore has been good or even not harmful to US workers.