Law and Policy of Substantial Ownership and

Identifies the factors that justify national ownership restrictions on airlines, and examines the prospects for change in the current policies and regulatory regimes that support them, in an era of liberalization and globalization.

Isabelle Lelieur is Head of the Legal Department at the French Airport Association, UCCEGA (Union des Chambres de Commerces et des Etablissements Gestionnaires d'Aeroports).

Preface

vii

Acknowledgements

ix

List of Abbreviations

xi

Introduction

1

(12)

Part 1 The Paradox of the International Airline Industry: Restrictions on Globalization in an Increasingly Global Market

13

(44)

Introduction to Part 1

15

(2)

1 Towards an Increasingly Global Open Market

17

(14)

1. Introduction

17

(1)

2. Consolidation and Multilateralism Required by the New Global Market

18

(6)

3. Alliances, Open-Skies, Full Market Access: a Three-stage Process to Achieve Globalization

24

(5)

4. Conclusion

29

(2)

2 The Progressive Decline of National Regimes on Ownership and Control of Airlines

31

(26)

1. Introduction

31

(1)

2. The US Exception: Perpetuating Protectionism Despite DOT's Willingness to Liberalize

31

(9)

3. The Two Faces of Europe: Internal EU Liberalization Versus Restrictions on Third Parties

40

(6)

4. The Canadian Regime

46

(4)

5. Erosion of the 'Substantial Ownership and Effective Control' Principle

50

(4)

6. Conclusion

54

(3)

Part 2 Justifications of National Restrictions Revisited

57

(44)

Introduction to Part 2

59

(2)

3 Analysis of Legal, Economic, and Security Justifications of the National Restrictions

61

(30)

1. Introduction

61

(2)

2. Legal and Economic Arguments

63

(19)

3. Aviation Safety and National Security Justifications

82

(7)

4. Conclusion

89

(2)

4 Consequences of the Abolition of the Ownership and Control Restrictions

91

(10)

1. Introduction

91

(1)

2. Legal Effects

91

(3)

3. Economic Benefits

94

(2)

4. Airline Consolidation Limits

96

(3)

5. Conclusion

99

(2)

Part 3 Cross-Border Investments Loom on the Horizon: The Steps to be Taken Towards Achieving Liberalization

101

(50)

Introduction to Part 3

103

(2)

5 Necessary Measures Prior to the Removal of Foreign Investment Restrictions

105

(12)

1. Introduction

105

(1)

2. Liberalization of Traffic Rights

105

(1)

3. Harmonization of Aviation Safety and Security Standards

106

(3)

4. Urgent Internal Political Changes in the EU and in the US

109

(5)

5. Harmonization of Competition Laws

114

(2)

6. Conclusion

116

(1)

6 Regionalism: a Prerequisite to Reach Multilateralism

117

(14)

1. Introduction

117

(1)

2. A Regional Approach to the Airline Liberalization Process

117

(7)

3. A Multilateral Approach to the Airline Liberalization Process

124

(5)

4. Conclusion

129

(2)

7 The Role of International Organizations

131

(20)

1. Introduction

131

(1)

2. The Organization for Economic Co-operation and Development

131

(4)

3. The World Trade Organization and the GATS

135

(6)

4. The International Civil Aviation Organization

141

(7)

5. Conclusion

148

(3)

Conclusion

151

(4)

Bibliography

155

(20)

Index

175

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Law and Policy of Substantial Ownership and Effective Control of Airlines: Prospects for Change

Summary

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Table of Contents

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Law and Policy of Substantial Ownership and Effective Control of Airlines: Prospects for Change

Summary

Author Biography

Table of Contents

Supplemental Materials

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