The European Commission approves three new regulations to liberalize air travel within the European Union. EU airlines are gradually given unlimited rights to serve airports in other member states, with the final round of reforms complete by April 1997.
The Operations of Australia's two government airlines, Australian Airlines and Qantas are merged in preparations for Qantas's privatisation, which will happen in 1995. Australian Airlines ceases to exist as a separate airline until 2002, when it re-emerges as a low-cost airline flying to destinations in South-East Asia.
NASA initiates the Advanced General Aviation Transport Experiments (AGATE) program to develop technology to help revitalize the slumping general aviation industry.
January 10 - TWA files for bankruptcy
January 11 - the US FAA approves a helicopter rating for a pilot based solely on flight simulator performance for the first time.
January 15 - the USAF loses a Lockheed U-2 in the Sea of Japan
January 18 - the United States armed forces retire the last F-4 Phantom II from front-line service
Two USAF B-52 Stratofortresses visit a Russian Air Force base near Moscow - the first visit by US military aircraft to the former Soviet Union.
March 24 - The United States Department of Transportation announces that it will sign open skies treaties with any states that wish to reciprocate. The first open skies treaty is signed between the U.S. and the Netherlands later in the year.
April 7 - Azerbaijan Airlines were established.
April 22 - the YF-22 prototype is damaged beyond repair
April 24 - a USAF C-130 Hercules carrying out an anti-narcotics mission over Peru is attacked by Peruvian Air Force Sukhoi Su-22s.
S7 Airlines started operations.
Two Russian Air Force Tupolev Tu-95s visit Barksdale AFB in the United States
May 8 - excavations begin at Devonport Naval Base, near Auckland, in search of two Boeing seaplanes supposedly buried there in 1919 - the first two aircraft built by that company. The search proves fruitless.
May 16 - the 2,000th C-130 Hercules rolls off the production line.
July 6 - the final F-4 Phantom IIs are retired from Royal Air Force service.
October 4 - El Al Flight 1862, a Boeing 747-200 cargo freighter, crashes in Bijlmer neighborhood in Amsterdam, Netherlands after take off. Killing 47 people.
October 16 - Flt Lt Nicky Smith, graduated from 89 Course at Shawbury to become the RAF's first female helicopter pilot, October 16.
December 27 - USAF F-16 Fighting Falcons shoot down an Iraqi Air Force Mikoyan-Gurevich MiG-25 in Southern Iraq's "no fly zone"
March 26 - Saab 2000
July 8 - Bede BD-10
August 20 - HAL Dhruv
November 2 - Airbus A330
December 18 - McDonnell Douglas MD-90