American Express said that the Open Skies agreement, which allowed for an expansion of capacity, helped push down air fares between London and the U.S. in the second quarter compared with the first quarter. Fares between London and New York's JFK airport, for example, declined 25%. Five carriers introduced service between Heathrow and the U.S. after the Open Skies deal opened up the trans-Atlantic market on March 30.

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