STEVE INSKEEP, host:
Once you get the credit card in hand you might be able at least to take a flight with it. This weekend, a landmark aviation agreement between the United States and Europe goes into effect. And it will end airline restrictions dating back to World War II.
NPR's Libby Lewis has details.
LIBBY LEWIS: The agreement means U.S. carriers can fly into any European city without first jumping through each country's bureaucratic hoops. And it means any European carrier can fly anyplace in the U.S. from any point in Europe. Before, those carriers could only fly from their home countries.
For travelers what will it mean? In a word for now, it means London. Ray Neidl is an airline analyst for Calyon Securities in New York.
Mr. RAY NEIDL (Calyon Securities): There are additional airlines now, U.S. carriers, going into Heathrow Airport, which is a busy business London airport. They weren't allowed to fly to that airport before. They now can fly transatlantic.
LEWIS: That puts pressure on the four airlines that have a corner on Heathrow to offer more competitive prices.
Mr. NEIDL: Now, airlines can't discount too much, because they're bearing the brunt of these fuel price increases, but it will put pressure on the airlines to look at their pricing.
LEWIS: A second round of talks begins later this year on a more prickly topic: opening up U.S. airline companies to foreign investors.
Libby Lewis, NPR News, Washington. Transcript provided by NPR, Copyright NPR.
