U.S.-Venezuela air travelers can let out a collective sigh of relief. The U.S. government lifted its restrictions on Venezuelan airline service to the U.S. last April 21, which removes Venezuela´s threat to severely restrict U.S. airline service to its country. The decision not only preserves the services U.S.-Venezuela travelers now use, but also could offer them more options. Some Venezuelan carriers reportedly have been preparing to increase their services to the U.S. once the restrictions were lifted.

Continental Airlines has shifted its flight times from Houston to Aruba. The new schedule will be effective as of June 10. The flights, which will operate on Tuesdays, Saturdays and Sundays, will depart Houston at 9:30 a.m. and arrive in Aruba at 3:15 p.m. Previously, the flight departed Houston at 1:35 p.m. with a 7:07 p.m. arrival.

Iberia has teamed up with four other Spanish companies and planned to launch a low-cost carrier in October this year. The five partners, which are to own 20 percent each of the new company, are Iberia, regional airline operator Nefinsa, leisure group Iberostar, industrial group Cobra and investment fund Quercus.

Air Canada welcomed the successful conclusion of an Open Skies Agreement for Canada and the United Kingdom. The agreement was reached in Ottawa, following discussions involving officials from the Canadian and U.K. Governments as well as representatives of Canadian and U.K. airlines.

Shares in JetBlue Airways Corp. and Continental Airlines slid about 10 percent on Monday, leading a decline in airline stocks on concern about crude oil prices breaking the $70 barrier. JetBlue, a one time investor darling, was down 95 cents, or 9.5 percent, at $9.48, just off a 3 1/2-year low touched earlier in the session. JetBlue shares are down 38 percent so far this year. Continental Airlines, which has been this year´s hottest airline stock, was $3.20, or 11.7 percent lower, at $24.17.

Copa Airlines reported an on-time performance of 92.31 percent for first quarter 2006, one of the best in the airline industry worldwide. In addition, during this same period, the airline´s operational completion rate was 99.7 percent, including both Panama and the other destinations where Copa flies.