Charles Kolin is speaking on an ACIC webinar titled "Challenges With Documentation of Airport Transactions and Aircraft Financing Enforcement, Remedies and Documentation." The coronavirus pandemic represents a significant challenge to both the global economy and, in particular, the transportation industry. Airports across the globe have taken capacity reduction actions while governments have restricted or strictly controlled travel movements at unprecedented levels. The global airline industry saw more than 90% of demand fall away within weeks of the spread of the coronavirus in March. Airports will take “two to three years” to return to pre-coronavirus levels of passenger travel, according to analysis from S&P Global Ratings.
The COVID-19 pandemic has led certain infrastructure businesses to face significant and prolonged disruptions to operations and revenues, giving rise in many instances to breaches or potential breaches of finance documentation. This presentation considers high-level issues to be mindful of when undertaking waiver processes in order to address such breaches, along with various issues and practical solutions regarding the enforcement, remedies, and documentation in aircraft financing.