Rants and Podcast
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Jun 18, 2020 | Podcast
Force Majeure! The Evolving Legal Landscape in Times of Turmoil
It may be an act of God, but is force majeure a realistic path to go down?
Mark Ditto, Vedder Price Shareholder and Attorney, explains how stakeholders are responding to this and other pertinent legal issues in our current commercial aviation reality.
3 Things We Learned from Mark
Force Majeure: It may seem like a viable option now, but be sure to think about the future. It may help protect cash, but it could impact future relationships with service providers.
Rent Deferrals: Rent deferral requests continue to come fast and furious from operators and have taken on a variety of flavors. These often need to be approved by lenders as well, and it can take a long time to get consent.
Relationships Matter: Lessors and banks have been relatively understanding of the toll this has taken on the airlines and the industry. The ones that thrive will focus on maintaining good relationships.