Brussels, 28/04/2009 (Agence Europe) - On Friday 24 April, the European Parliament and Council reached first reading agreement on the draft regulation relaxing rules for allocating time slots for airlines. The text was presented by the European Commission in March to respond to the economic and financial crisis in the sector (see EUROPE 9861). The revised regulation temporarily suspends the “use it or lose it” rule which has applied until now and allows air carriers to keep the same slots in summer 2010 as those allocated them for summer 2009, whether they use them or not. The Commission will be able to renew the proposal for winter 2010-2011 if the economic situation of the air sector continues to worsen before the allocation of winter 2009-2010 slots. Under the terms of the agreement, such a proposal will have to come after an assessment analysing the potential impact on competition and consumers and should form part of the proposal for comprehensive revision of regulation 95/93 governing slot allocation rules. Parliament is expected to vote on the text on 5 May, before it is formally adopted by Council, in principle upholding the vote in the EP transport committee which, last week, was subscribing to the Commission proposal. (A/By./transl.rt)