Cape Town Convention Law 2009 and its likely impact on aircraft financing in the...

In July 2009 the Cayman Islands enacted the Cape Town Convention Law 2009.  The intention of the Convention has been to standardise transactions involving moveable property with respect to aircraft objects such as airframes, aircraft engines and helicopters.

Aviation “be careful what you wish for”

In 2008, the industry lost US$5.2b as a result of the sudden increase in oil and jet-fuel prices and the bulk of the losses were sustained in the US where many airlines had insufficient hedging protection in place. Fuel accounted for 32 per cent of airlines’ operating costs in 2008, according to the International Air Transport Association forecast, published in February 2009.
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