What happens if a lessee (the operating airline) goes bankrupt during the course of a lease agreement?
If no action is taken before the lessee loses its operating licence then the slots are forfeit to the pool – they do not revert to the lessor. The alternative solution is to reverse the slot exchange before the lessee losing its operating licence, in which case the lessor must ensure that the slots are operated in accordance with the use-it-or-lose-it rule.
Related Questions
- What happens when the lessee continues occupying a property fifteen (15) days after the lease has expired, without notice to vacate?
- What happens if a lessor (the original slot holder) goes bankrupt during the course of a lease agreement?
- What happens if a tenant continues to pay rent after a lease agreement expires?
