By Ruwantissa Abeyratne
This ebook embarks on a latest research of the interplay of economics and legislations with regards to air shipping, delving into the most important matters that plague the undefined. It indicates how a few of the thorny and problematical matters should be approached sensibly. one of the matters mentioned are the paradox of exponential development of air delivery which makes airline profitability remain negative; the legislative impediments in such a lot international locations that avoid direct overseas funding within the undefined; the confounding and muddled mess in the back of the economics of airplane engine emissions; and the inexplicable truth that, even though civil aviation is essentially intended to fulfill the wishes of the folk of the realm, nation regulators have upended the equation and given precedence to nationwide pursuits over the pursuits of the passenger. The publication might be of curiosity to economists and attorneys alike who take care of air delivery matters, and in addition to teachers and scholars within the sector of transportation in addition to regulators and airlines.
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Extra resources for Aeronomics and Law: Fixing Anomalies
In order to do so, some reliance will be placed on the analogy of maritime practice, the basic principles of which, particularly in terms of registration, also apply to aviation. 64 62 Hill, Christopher. Maritime Law. Fifth Edition, LLP, London, 1998, at p. 24. 1 of Annex 7 to the Chicago Convention requires that the nationality or common mark and registration mark shall be painted on the aircraft or shall be affixed by any other means ensuring a similar degree or permanence. This Standard also requires that marks be kept clean and visible by the operator at all times.
When an aircraft obtains a national character, naturally flowing corollaries to this right, which are implicit, are put in place, such as the right to claim the nationality of the country of registration as well as protection under international law. One very important reason for aircraft owners to register their aircraft in a specific registry is that the registration in a nation’s registry would effectively preclude third parties outside the nation of registry from claiming ownership of the aircraft.
In the context of Africa, some of Asia and South America, there could be numerous obstacles that could preclude the optimization of host country policies unless external action is brought to bear that could maximize FDI and minimize costs. 47 From the foregoing discussion it is clear that FDI offers considerable protection to the investor as well as increased opportunity to the air transport industry to serve its consumer better and more efficiently. However, for regulators to open up the restrictive national ownership and control practice would require a radical change of mindset and a miraculous realization that we have got everything about air transport economics upside down from the time the Chicago Convention was signed in 1944.
Aeronomics and Law: Fixing Anomalies by Ruwantissa Abeyratne