According to figures reported by Reuters Mexico, the US and Mexico share 19 million passengers a year, with the US possessing a fleet of 7,500 aircraft, against 300 for Mexico.
The deal awaits approval by the Mexican Senate, but Mexico Transportation Secretary Gerardo Ruiz Esparza predictes that will come early in the new year. No such ratification is required in the U.S.
Office of the Spokesperson
December 18, 2015
We welcome the signing this morning of a new air transport agreement between the United States and Mexico. This landmark agreement with one of our largest aviation partners will significantly increase future trade and travel between the United States and Mexico. The signing of this important agreement is the result of more than two years of negotiations led by the Department of State with the Department of Transportation and the Department of Commerce.
The new agreement will benefit U.S. and Mexican airlines, travelers, businesses, airports and localities by allowing increased market access for passenger and cargo airlines to fly between any city in Mexico and any city in the United States. Cargo carriers will now have expanded opportunities to provide service to new destinations that were not available under the current, more restrictive agreement.
This new air transport agreement further elevates and strengthens the dynamic commercial and economic relationship between the United States and Mexico and advances our goal of shared prosperity. By allowing air carriers to better meet increasing demand in both countries, the agreement will help drive economic growth in sectors beyond aviation, including tourism and manufacturing.
Following internal ratification procedures in Mexico, both governments will be in a position to bring the new agreement into force.
12/18/2015 - Mexico, US sign agreement to increase air passenger and cargo routes via Reuters Mexico
12/18/2015 - Mexico-US accord lifts airline restrictions via Mexico News Daily