In 1976, the British government announced its intention to renounce the agreement, beginning the negotiation of the Bermuda II Agreement which became effective in 1978. Although the UK initially sought an equal division of capacity between UK and US carriers, the final Bermuda II agreement largely preserved the liberal capacity provisions of Bermuda I.
The Bermuda agreements were replaced in two stages on March 30, 2008, and June 24, 2010, by the EU–US Open Skies Agreement between the European Union (representing 25 European countries) and the United States, providing for an Open Skies regime even more liberal even than Bermuda I.