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Re-energising discussions on key financial matters

Under the umbrella of the ERA Chief Financial Officers' Group, CFOs met in London on 28 February and 1 March in the format of a workshop to get an insight into current trends and reinvigorate discussions on key financial matters.

Participants across the entire ERA membership gathered in the offices of Clyde & Co. in London to attend a CFO Workshop that provided insight into financial developments directly relevant to European airline operations as well as global industry influences. The event started with a presentation by Clyde & Co. on identifying the issues for ERA members in connection with Brexit. ERA director General Montserrat Barriga informed attendees about the ongoing review of regulation EU261 including a fact-finding study currently conducted by Steer. Staying on the topic of consumer issues, JLT Specialty presented on the possibility of and experiences related to an insurance against claims stemming from passenger rights regulation. Afterwards, participants had the chance to learn about European Investment Bank (EIB) lending for European operators and lessors as well as the economic outlook for European airlines demonstrated by Investec representatives. Also on the first day, Vertis gave a detailed overview on carbon markets, highlighting both the functioning and the differences between EU ETS and CORSIA. The CFO Workshop continued on the second day with ERA informing members about the consultation on use of the Euro vs US Dollar run by the European Commission, a topic which introduced the presentation of AFEX on foreign exchange risks. Delegates had the pleasure to learn about the importance of cyber insurance – pointing out both the financial and professional risks of its ignorance – presented by JLT Specialty. The UK Independent Review of Airline Insolvency gave an overview about their recent work that is mainly building on the consequences of ceased airline operations. Finally, members were given insightful details on aviation insurance market trends and Brexit implications from Willis Towers Watson. The two-day workshop was closed by drinks kindly hosted by AFEX.

Members will be able to download the presentations held during the workshop here shortly: https://www.eraa.org/policy/era-groups/chief-financial-officers-group-0