The principle of airline substantial ownership and effective control is one of the biggest impediments to the air transport industry growth. Legitimately included in the bilateral agreements since 1946 for national security reasons, States have maintained the principle over the years and used it as a protectionist tool, as well as a bargaining chip. Today, considering that liberalization and globalization concepts are already well-established in the biggest industrial sectors, and a large number of cross-border investments occurs in most of the service sectors through mergers and acquisitions, the time is ripe to remove national restrictions on foreign investments from the airline industry. This comprehensive book identifies those factors that still justify the imposition of national ownership restrictions on airlines and examines the prospects for change in the current policies and regulatory regimes that support them. The readership includes specialists in government departments of transportation, civil aviation authorities and agencies, international organizations, airline executives concerned with general management, economic, legal and public affairs, aviation lawyers, airline pilot associations, law schools concerned with international aviation law.
Table of Contents
Contents: Introduction. The Paradox of the International Airline Industry: Restrictions on Globalization in an Increasingly Global Market: Introduction; Towards an increasingly global open market; The progressive decline of national regimes on ownership and control of airlines. Justifications of Natural Restrictions Revisited: Introduction; Analysis of legal, economic and security justifications of the national restrictions; Consequences of the abolition of the ownership and control restrictions. Cross-Border Investments Loom on the Horizon - The Steps To Be Taken Towards Achieving Liberalization: Introduction; Necessary measures prior to the removal of foreign investment restrictions; Regionalism: a prerequisite to reach multilateralism; The role of international organizations; Conclusion; Bibliography; Index.
'This book addresses, in a comprehensive manner, the most important issue facing commercial aviation today. The suggestions made herein are thought provoking and original. It is a "must read" for airline managers, aviation lawyers and economists, as well as academics who are involved in teaching aviation law and management.' Dr. Ruwantissa Abeyratne, Air Transport Bureau, International Civil Aviation Organization, Montreal '..the articles are well and clearly presented...the sources are extensive and comprehensive...conclusions are well-reasoned...' The Aerospace Journal ’Isabelle Lelieur is an innovative scholar who offers a remarkably penetrating analytical and critical view...her work will command a wide interest.’ Professor Dr Michael Milde, Institute of Air and Space Law, McGill University, Montreal '...contains a wealth of materials thoughts and references. ...The book contains a valuable analysis and information, including an impressive bibliography. Ms Lelieur has a compelling way of putting her views forward which she explains in clear language.' Aerlines, Feb 04