Australia, USA sign open skies agreement

CANBERRA - Australia and the United States have signed the long-awaited Open Skies Agreement which could make trans-Pacific travel substantially cheaper.

Transport Minister Anthony Albanese will hold a press conference in Sydney this afternoon to discuss the signing of the landmark agreement with the US earlier today.

That agreement will allow additional Australian and US airlines to operate between the two countries and remove restrictions on competition.

Negotiation began under the previous government.

Almost two million passengers fly between the US and Australia each year.

- AAP