On 22 February 2024, the EU issued responses to FAQs in a new “guidance document” relating to sanctions regulations issued in December 2023 (specifically, the Frequently Asked Questions on: “No Re-Export to Russia” Clause, related [to] article 12g of Council Regulation 833/2014). This new guidance document demonstrates the EU’s continued commitment to strengthen sanctions against Russia and prevent export bans from being circumvented.  Initial commentary relating to the no re-export clause and the guidance document has led to concern from some parties about the sheer number of contracts t ..read more

The successful issuance last year by Ashland Place Finance of ASHLAND 2023-1, the aviation loan asset backed securitization (ABS), together with the engine ABS, WEST VII, issued by Willis gave glimmers of hope to aircraft lease ABS market participants. This year’s BJETS 2024-1 by Global Jet Capital marks a further significant development for the aviation finance sector, and although it comprises a mix of loans and leases for business jets, market participants cannot help but hope that it heralds a further indicator of a potential resurgence ahead for the commercial aircraft lease ABS market. T ..read more

The U.S. Department of Transportation (DOT) has finalized its rule requiring U.S. and foreign air carriers to refund costs associated with tickets and ancillary service fees under certain circumstances related to airline delays and cancellations. This rule stems from and responds to President Biden’s Executive Order on Promoting Competition in the American Economy, issued on July 9, 2021. This E.O. launched a whole-of-government approach purporting to strengthen competition and requires the DOT to consider various actions to promote the interests of American consumers, workers, and businesses ..read more

As we begin the new year, the aviation industry is closely following certain Department of Transportation (DOT) Notices of Proposed Rulemakings (NPRM) published in 2022. These proposed rulemakings relate to consumer protections, including ancillary fees and airline ticket refunds. In contrast to the NPRM relating to ancillary fees, the NPRM relating to ticket refunds arguably codifies existing DOT enforcement practices. Ancillary fees  In this alert, we focus on the NPRM relating to ancillary fees, a term used to describe charges for items such as checked baggage and changing or cancellin ..read more

Originally published by Aerospace Testing International in ‘Showcase 2024 ‘ The Advanced Air Mobility sector is poised for sustainable growth and offers a plethora of opportunities to aerospace professionals who are considering including in their portfolios eVTOL aircraft and associated elements. According to a study published by analysts this year, the Global AAM market is forecast to be worth more than US$68 billion by 2032, supported by a projected annual growth rate of around 35% between now and 2032. Over this time, it is anticipated that AAM operations will grow increasingly complex – fr ..read more

We are conducting a short, anonymous survey to find out your thoughts on sustainable fuel sources in the transportation industry, including your understanding of the various options, potential challenges, and expected timings for full conversion to sustainable fuel sources. Please take 5 minutes to complete the survey. We know this topic is top of mind for many of our clients in the aviation industry, particularly with the International Air Transport Association (IATA) goal for the global aviation industry to meet net-zero emissions by 2050 and the push towards finding sources of sustainable a ..read more

We get it. You don’t want to think about it right now. You spent countless hours designing your aircraft and raising capital. Your company is getting closer to, or is already, conducting certification testing. FAA certification of your aircraft, manufacturing, and mass distribution are your ultimate goals. Understandably so. The next frontier of aviation is right there in front of us, with the FAA’s Innovate 28 Plan laying the groundwork for AAM operations in 2028. The FAA seems ready and willing, at a deliberate speed, to create a proper regulatory framework and work with AAM O ..read more

Recent news headlines relating to air travel have demonstrated the aviation industry’s refocus on passenger experience and consumer protection issues.  Airlines are working hard to address scenarios that may affect the passenger experience during air travel today, including remediating weather delays and personnel-related issues. The Biden Administration has made consumer protections in the aviation industry a priority issue. For example, we covered the U.S. Department of Transportation’s (DOT) May 2023 launch of a new platform for passengers to communicate with DOT about airline travel i ..read more

After 9/11, waves of lawsuits were filed seeking to hold those who sponsored and supported the al Qaeda terrorist organization accountable.  For instance, insurance companies, who paid out hundreds of billions of dollars in compensation for property damage and personal injuries as a result of the 9/11 attacks, filed subrogation lawsuits against al Qaeda and a host of other terrorist organizations, individual terrorists, nation states[1], and financial institutions allegedly involved in providing support and financial assistance to certain 9/11 hijackers and plotters.  In addition, fa ..read more

In the past week, the U.S. House and U.S. Senate separately proposed legislation to reauthorize and fund the Federal Aviation Administration (FAA). While there are similarities and overlapping provisions in the two bills, there are many differences. For example, while the House’s version provides great funding and revitalization of the general aviation community, the Senate’s version does not. By way of further example, the Senate’s version provides sweeping provisions for what it calls “consumer protections” which would drastically alter a commercial airline’s financial obligations in the eve ..read more