A388
Topic Author
Posts: 7528
Joined: Mon May 21, 2001 3:48 am

USA Compared To EU

Thu Oct 17, 2002 10:50 pm

Hi everybody,

I'm currently analysing the aviation crisis and I was wondering what measures/actions or precautions the United States government and the European Union took. I know that the United States introduced the "Airline Stabilization Act" which is designed to save the airline industry after the attacks of September 11. Other airlines are filing for Bankrupcy Chapter 11, what's the difference between these Acts and what are the conditions for airlines to make use of these laws? When looking at the Airlines Stabilization Act what are the limits of the compensations given by the government? How is the compensation calculated? What about the EU or Europe in general? What changes to the law did they make to help suffering airlines? Did they also introduce a "bailout" law to help airlines from going bankrupt? I haven't seen such a new law being passed in Europe.

Also does anybody know why the airline industry already was in a slump or suffering (badly) before the terror attacks? Where did problems start to occur and why?

Any help or any link to websites that have more detailed information on this topic is welcome.

Regards,

A388
 
LJ
Posts: 4313
Joined: Wed Nov 17, 1999 8:28 pm

RE: USA Compared To EU

Fri Oct 18, 2002 2:35 am

A388, the EU just said to the EU airlines to sort things out of their own. EU countries are from next year not allowed to underwrite claims resulting from terrorist's acts. Airlines weren't allowed to receive money with the exception of lost revenue/profit (don't know exactly which they took) resulting from the closure of US airspace on September 11th, 12th, 13th and 14th.

BTW European aviation is doing relatively well. Traffic is again above 2001 levels for certain airlines. However yields (especially on transatlantic flights are low)

Maybe the website of the Association of European Airlines can probably help you
http://www.aea.be/

Another usuefull link is about EU policy
http://europa.eu.int/comm/transport/themes/air/library/en_attentats.pdf

On the EU site you may find more press releases and information about the EU (current) policy

Regards
Laurens

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