| The most technologically advanced industry in the 20 th . century is ruled by economic principles dating back to the 19 th . century. Aviation is regulated by a complex network of bilateral agreements, with concepts of national sovereignty, nationality, and territoriality prevailing. The international market continues to be ruled by the bilateral scheme of the Chicago Convention of 1944, with a clear trend toward industry concentration. However, partial deregulation of air transportation in some countries has proven a significant component in improving the business climate. This paper explains traditional objections to open skies policies as well as counterarguments and the need to underwrite a Central American agreement.
|