Low-cost air carriers spreading wings over the Atlantic
Low-cost air carriers are spreading their wings across the Atlantic, much to the chagrin of the major airlines now forced to serve new destinations and cut fares. Transatlantic flights operated by Norwegian Air, Iceland?s Wow air, Canada?s WestJet and Morocco?s Royal Air Maroc have multiplied in recent years as jet fuel has grown cheaper. Delta Air Lines, United and American, the three largest US companies, recently said they saw a drop in transatlantic traffic due to Britain?s vote to quit the Eurozone, terrorist attacks in Europe and overcapacity. Revenues could fall as a result. Transatlantic flights have long been the preserve of major airlines, protected by the Open Skies agreements between the United States and Europe. The agreements allowed these companies to form three partnerships ? SkyTeam, Atlantic and OneWorld ? and charge whatever rates they wanted.