Welcome to the October edition of Legalflyer.
The aviation industry has long recognised the need for a Brexit transition period to allow time to finalise a comprehensive UK-EU aviation agreement. But what are the proposed terms of transition for aviation? Will the regulatory environment remain the same during the transition period or do airlines and other aerospace businesses need to plan for the transition period itself? In this article we explain the terms of transition and where areas of uncertainty persist for aviation businesses.
A year has passed since the Monarch Airlines collapse and one consequent action was for the UK government to launch an Airline Insolvency Review. This article identifies key considerations in the event of an insolvency including the interests of lessors and financiers and the Cape Town Convention and references examples from Europe and the US. It concludes with a review of the Monarch case and an update on the Airline Insolvency Review.
Following GDPR is the next phase of the EU’s Digital Single Market Strategy, the ePrivacy Regulation which is designed to harmonise European laws on the confidentiality of electronic communication data. This article reviews the new regulation, highlighting areas of note for aviation entities based in the EU and for those entities based outside but doing business within it.
This article reviews a case involving the lease of a faulty engine which failed mid-flight. The case highlights the interplay between technical and legal reasoning and in discussing the judgment demonstrates the importance of the legal documentation including the terms of the lease and the Acceptance Certificate.
Open banking around the world
The UK continues to be the global pioneer in Open Banking through the implementation of the EU Payment services Directive (PSD2) and the open banking initiative by the Competition and Markets Authority (CMA).