| Autor: |
Wolf, Annika, Graham, Richard, Middleton, John, Sugano, Yuri |
| Zdroj: |
Norton Journal of Bankruptcy Law & Practice; 2017, Vol. 26 Issue 5, p539-581, 43p |
| Abstrakt: |
One integral part of the creation of a global economy has been the more than ever interconnected and globalized international airline industry, which provides service to virtually every corner of the globe. The airline industry itself is a major economic force, generating substantial and intense attention among competition, from government policy makers, the media, and almost anyone who has traveled on an airplane. This paper is primarily concerned with identifying and discussing the key issues that arise in the event an airline is in financial distress or even has to file for insolvency. In general, airlines are multinational companies and are subject to different national jurisdictions and international regulations in their daily routines. Enforcement of security is therefore a challenge this paper will shed light on. The structure of the paper will be as follows: after a short introduction to the airline industry, the paper introduces different aspects of aircraft finance from the position of financial institutions and the different options available to finance aircraft in the first part. The second part will discuss how different jurisdictions deal with the financial distress of airlines and especially the enforcement of interests in secured collateral, namely aircraft. The remaining part of the paper takes the perspective of the International Airline Transportation Authority (IATA) and its role in supporting solutions for financial distress of airlines. The conclusion will highlight the general findings, one major take-away should be that anyone dealing with airlines in distress looking for a reorganization, or at least relief to negotiate a restructuring, should turn to IATA for support. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Supplemental Index |
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