Global | Publication | November 15, 2021
Legalflyer provides legal and market commentary, addressing the key questions and topics of interest to our clients operating in the global aviation industry. The content of Legalflyer incorporates the breadth of our aviation practice with contributions by lawyers from across our 50+ offices worldwide.
The knowledge of our lawyers encompasses every aspect of the business, derived from decades of experience of advising the broadest spectrum of industry participants, including airlines, banks and financiers, lessors, manufacturers, insurers, export credit agencies, governments and regulatory bodies. We trust that Legalflyer will keep you abreast of the latest global developments.
Publication
Since the EU published its “Fit for 55” aviation proposals and the UK Government published its Decarbonising Transport Plan in July, the focus on aviation decarbonisation has only intensified as we approach the start of the 26th UN Climate Change Conference of the Parties (“COP26”) in Glasgow on 31 October
Publication
In common with other industries around the world, the aviation industry has been under significant pressure for some time to reduce emissions. Airlines and lessors, as well as their financiers, are increasingly coming under pressure from a wide-range of stakeholders, including governments, central banks and investors to deliver more and better-quality climate-related financial information that is consistent, comparable, reliable and clear.
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In early October the members of the International Air Transport Association (IATA) committed to reaching net zero carbon emissions by 2050.
Publication
The application of green and sustainable lending principles to the aviation industry has long been a source of controversy and confusion. At the heart of the matter is whether lending to an airline can ever be considered truly “green” and if not, then whether aviation could be considered a transitioning industry with lending practices supporting the move towards lower emissions.
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The lasting legacy of the COVID-19 pandemic is yet to be fully understood by the aviation industry but there are certain assumptions that can be made.
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As of December 31, 2020 (the Withdrawal Date), the United Kingdom (UK) is no longer a member of the EU Aviation Safety Agency (EASA) and the EASA regulatory framework ceased to apply from such date.
Publication
Since our article on the topic in the December 2020 edition of Legalflyer (link), there have been further developments in the retirement of LIBOR.
Publication
The attempt by SalamAir to injunct LATAM from calling on three letters of credit is a useful reminder of (i) the reluctance of the English Court to intervene in the operation of letters of credit and (ii) the difficulty of frustration arguments in aircraft operating leases.
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