Question:
I can imagine situations where both sides will want to initiate an air mission at the same time (e.g., one side wants to bomb a port to prevent a landing, the other wants to bomb the bombers which want to bomb the port before they can leave base). Who gets priority?
Answer:
If both sides simultaneously want to initiate an air operation, then choose at random which side gets to initiate the air op. The easiest way is to roll one die: 1–3 means the Allied player initiates; 4–6 the Axis player. (Use this in cases only when both sides truly wanted to initiate an air op. For example, if one player announces an air op and the other player lets him start moving air units unchallenged, then the second player can’t decide later that he really wanted to start an air op, too.) At the end of the air op, the other player may now initiate an air op, if he still wishes to do so. Continuing alternating air ops between the two sides until at least one of the players no longer wants to initiate an air op.
It’s also been reported that both players want to fly air ops at the same time, but they want the other side to go first (for example, so that they can see where enemy CAP is going). Follow the same procedure as above: randomly select one player to initiate an air op, and then alternate air ops between the two sides until at least one player is done.
Source:
Errata published at http://www.hmsgrd.com/Files/Europa/Second Front/Second Front.pdf

