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Australia and the U.S. signed an “open skies” aviation deal today.

Australia and the U.S. signed an “open skies” aviation deal today. The pact will allow U.S. and Australian airlines to freely choose routes and schedules between the two countries, liberalizing one of the most profitable and protected air routes in the world. “We’ll certainly see some better pricing than we’ve seen on the market today,” said Brett Godfrey, the CEO of No. 2 Australian airline Virgin Blue, “but in terms of a price war . . . I wouldn’t quite see that.” (Dow Jones in MarketWatch)

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