Scheduled airline service between the U.S. and Britain came within a whisker of stopping last week. But the planes kept flying because U.S. and British negotiators came up with a new pact governing air traffic between their countries—at 5:10 a.m. Wednesday, London time, ten minutes after the Bermuda Agreement of 1946 had expired. The new agreement, informally called Bermuda II, on balance seems to give the most benefits to British airlines, which get more new routes between the two countries and a chance for a greater share of transatlantic revenues.
Beyond London. The British had been pressing for a year...
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