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Material Adverse Change

Norton Rose LLP
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United Kingdom
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March 8 2012

We have received an increasing amount of queries regarding Material Adverse Change (MAC) clauses over the last few months, which are a common feature of most facility agreements, leases and mandate letters

Does an operating lessee have to pay rent for a defective aircraft?

Norton Rose LLP
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United Kingdom
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May 14 2010

In ACG Acquisition XX LLC v Olympic Airlines S.A. 2010 EWHC 923 (Comm.), the English High Court was asked to rule on the circumstances in which the defective condition of an aircraft delivered to an airline under an operating lease might entitle the airline to refuse to pay rent for it

Reform of air passenger duty

Norton Rose LLP
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United Kingdom
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March 8 2012

The coalition Government confirmed on 6 December 2011 that it will go ahead with the proposed extension of air passenger duty (APD) announced in the Autumn Statement

Olympic Airways judgment 2 May 2012

Norton Rose Australia
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United Kingdom
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September 26 2012

In May 2010 we reported on the application for summary judgment in ACG Acquisition XX LLC v Olympic Airlines S.A. 2010 EWHC 923 (Comm

New endorsement evidencing the interests of banks and lessors

Norton Rose LLP
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United Kingdom
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November 20 2007

The Aviation Insurance Clauses Group (AICG) has published the form of a new endorsement (known as AVN 67C) showing the interests of banks and lessors under the insurances effected in respect of an aircraft they have financed or leased

Judicial clarification of the choice of law rules for aircraft mortgages: how a mortgage may be effective in one jurisdiction but ineffective in another

Norton Rose LLP
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United Kingdom
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April 14 2010

The English High Court has recently held that: it is the lex situs (that is, the laws of the jurisdiction where the relevant asset is situated at the time that the interest is created) which determines whether a property interest, such as a mortgage, is effectively created over that asset

The Aviation Greenhouse Gas Emissions Trading Scheme Regulations 2009 and 2010 how they could impact on aircraft operators flying to and from the UK

Norton Rose LLP
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United Kingdom
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March 31 2010

The 2009 Regulations together with the draft 2010 Regulations (currently under consultation) (the "Regulations") will (once the 2010 Regulations come into effect) transpose into UK law parts of Directive 2008101EC, which amends Directive 200387EC (the "Directive") to include "aviation activities" within the EUETS

Competition Commission’s emerging thinking finds BAA’s common ownership of airports adversely affects competition

Norton Rose LLP
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United Kingdom
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April 22 2008

Following on from the CAA’s recent decision on 2008-13 price controls for Heathrow and Gatwick, the regulatory spotlight remains firmly on BAA

Aviation sector is more pessimistic than rail and shipping about the economic climate

Norton Rose LLP
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United Kingdom
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September 10 2009

The aviation sector is the most pessimistic about the economic climate

Competition Commission’s provisional findings - divestiture of three BAA airports recommended

Norton Rose LLP
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United Kingdom
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August 20 2008

The Competition Commission (CC) today announced its Provisional Findings in relation to its ongoing Market Investigation of BAA’s ownership of seven UK airports

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