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The Airline Industry and the CARES Act: What Secured Lenders Need to Know

Since its enactment, aviation related companies have received well over $50 billion in grants and loans under the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) that was passed in March 2020. But how do...more

Aviation Update: FAA Proposes Extension of Slot Utilization Waiver at JFK, LGA and DCA Given COVID-19’s Continued Impact on Air...

The Federal Aviation Administration (“FAA”) is proposing to extend its slot utilization waiver at John F. Kennedy International Airport (“JFK”), LaGuardia (“LGA”) and Ronald Reagan Washington National (“DCA”) through March...more

Uncertainty in the Airline Industry: An Overview of Slots, Gates and Routes Pledged as Collateral in the Wake of COVID-19

In recent years, several major US airlines have entered into loan facilities secured solely by certain of its slots, gates and routes (“SGR”). This alert provides (i) a brief overview of SGR, (ii) how SGR collateral may be...more

New York Bankruptcy Court Finds That Aircraft Leases' Liquidated Damages Clauses and Guarantees Are Unenforceable

On February 14, 2019, Judge Lane of the Bankruptcy Court for the SDNY issued an opinion in Republic Airways Holdings Inc. addressing whether the liquidated damages provisions in certain aircraft “true leases” under Article 2A...more

Renewed Interest in Synthetic Leases – A Refresher and Changes Under the New (ASC 842) Lease Accounting Standard

A synthetic lease is a financing technique structured to be an operating lease for the lessee’s financial accounting purposes and a financing for U.S. federal tax purposes. Synthetic leases are most often used in acquisition...more

What Is ADS-B and What Do Lenders and Lessors Need to Know About ADS-B?

While compliance with the upcoming ADS-B requirements is primarily an issue for those responsible for maintenance and operation of aircraft, lenders and lessors should understand ADS-B compliance requirements and plan...more

12/14/2017  /  Aircraft , Lenders , Lessor , Tracking Systems
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