Impacts of international airline bilateral liberalization on demand, fares, accessibility, and consumer welfare in the North Atlantic are studied, based on data for markets between the United States and five European countries. A demand model, estimated at the country-pair level, suggests that demand is slightly fare inelastic (e ~= -0.9), and that demand has responded positively, though inelastically (e~=0.2), to changes in accessibility (A measure of how much non-stop service is available). A yield model is estimated to assess the impact of bilateral liberalization status on fares, and...