A Commission report (The European airline industry: from single market to worldwide challenges) issued on 21 May states that European airlines have improved their financial performance in response to market liberalisation. It also states that fares have been brought down by 10-24% as a result of competition. The Commission says that further streamlining of the regularory regime is necessary however, with bilateral agreements between Member States and non-EU countries hampering further restructuring.(Originally posted by Jason Campbell)
