Revaluación de los contratos de arrendamiento de aeronaves de la era de la pandemia: Cómo navegar los retos de invocar la fuerza mayor mediante la aplicando de onerosidad excesiva en el Derecho mercantil internacional

La mayoría de las aeronaves se adquieren mediante contratos de leasing, y la carga financiera recae en el arrendador debido a su financiación de equipos pesados para el arrendatario en estos contratos. Por lo tanto, para garantizar que el arrendatario cumpla con el pago del arrendamiento al arrendad...

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Autores:
Agarwal, Tanya
Tipo de recurso:
Article of investigation
Fecha de publicación:
2021
Institución:
Universidad Católica de Colombia
Repositorio:
RIUCaC - Repositorio U. Católica
Idioma:
eng
OAI Identifier:
oai:repository.ucatolica.edu.co:10983/29748
Acceso en línea:
https://hdl.handle.net/10983/29748
https://doi.org/10.14718/NovumJus.2021.15.E.8
Palabra clave:
Aircraft Leasing Agreement
Hell or High-water clause
Force Majeure
Hardship
nonperformance
renegotiation
contrato de arrendamiento de aeronaves
cláusula “contra viento y marea”
fuerza mayor
onerosidad excesiva
incumplimiento
renegociación
contrato de arrendamento de aeronaves
“contra todas as probabilidades”
força maior
onerosidade excessiva
descumprimento
renegociação
Rights
openAccess
License
Tanya Agarwal - 2021
id UCATOLICA2_1f7928912fdaace4e2bba18d7bd95cde
oai_identifier_str oai:repository.ucatolica.edu.co:10983/29748
network_acronym_str UCATOLICA2
network_name_str RIUCaC - Repositorio U. Católica
repository_id_str
dc.title.spa.fl_str_mv Revaluación de los contratos de arrendamiento de aeronaves de la era de la pandemia: Cómo navegar los retos de invocar la fuerza mayor mediante la aplicando de onerosidad excesiva en el Derecho mercantil internacional
dc.title.translated.eng.fl_str_mv Revaluating aircraft leasing contracts in the pandemic era: navigating the challenges of invoking force-majeure by applying hardship under international commercial Law
title Revaluación de los contratos de arrendamiento de aeronaves de la era de la pandemia: Cómo navegar los retos de invocar la fuerza mayor mediante la aplicando de onerosidad excesiva en el Derecho mercantil internacional
spellingShingle Revaluación de los contratos de arrendamiento de aeronaves de la era de la pandemia: Cómo navegar los retos de invocar la fuerza mayor mediante la aplicando de onerosidad excesiva en el Derecho mercantil internacional
Aircraft Leasing Agreement
Hell or High-water clause
Force Majeure
Hardship
nonperformance
renegotiation
contrato de arrendamiento de aeronaves
cláusula “contra viento y marea”
fuerza mayor
onerosidad excesiva
incumplimiento
renegociación
contrato de arrendamento de aeronaves
“contra todas as probabilidades”
força maior
onerosidade excessiva
descumprimento
renegociação
title_short Revaluación de los contratos de arrendamiento de aeronaves de la era de la pandemia: Cómo navegar los retos de invocar la fuerza mayor mediante la aplicando de onerosidad excesiva en el Derecho mercantil internacional
title_full Revaluación de los contratos de arrendamiento de aeronaves de la era de la pandemia: Cómo navegar los retos de invocar la fuerza mayor mediante la aplicando de onerosidad excesiva en el Derecho mercantil internacional
title_fullStr Revaluación de los contratos de arrendamiento de aeronaves de la era de la pandemia: Cómo navegar los retos de invocar la fuerza mayor mediante la aplicando de onerosidad excesiva en el Derecho mercantil internacional
title_full_unstemmed Revaluación de los contratos de arrendamiento de aeronaves de la era de la pandemia: Cómo navegar los retos de invocar la fuerza mayor mediante la aplicando de onerosidad excesiva en el Derecho mercantil internacional
title_sort Revaluación de los contratos de arrendamiento de aeronaves de la era de la pandemia: Cómo navegar los retos de invocar la fuerza mayor mediante la aplicando de onerosidad excesiva en el Derecho mercantil internacional
dc.creator.fl_str_mv Agarwal, Tanya
dc.contributor.author.spa.fl_str_mv Agarwal, Tanya
dc.subject.eng.fl_str_mv Aircraft Leasing Agreement
Hell or High-water clause
Force Majeure
Hardship
nonperformance
renegotiation
topic Aircraft Leasing Agreement
Hell or High-water clause
Force Majeure
Hardship
nonperformance
renegotiation
contrato de arrendamiento de aeronaves
cláusula “contra viento y marea”
fuerza mayor
onerosidad excesiva
incumplimiento
renegociación
contrato de arrendamento de aeronaves
“contra todas as probabilidades”
força maior
onerosidade excessiva
descumprimento
renegociação
dc.subject.spa.fl_str_mv contrato de arrendamiento de aeronaves
cláusula “contra viento y marea”
fuerza mayor
onerosidad excesiva
incumplimiento
renegociación
contrato de arrendamento de aeronaves
“contra todas as probabilidades”
força maior
onerosidade excessiva
descumprimento
renegociação
description La mayoría de las aeronaves se adquieren mediante contratos de leasing, y la carga financiera recae en el arrendador debido a su financiación de equipos pesados para el arrendatario en estos contratos. Por lo tanto, para garantizar que el arrendatario cumpla con el pago del arrendamiento al arrendador, se redacta en el contrato una cláusula “contra viento y marea”. Esto obliga al pago por parte del arrendatario independientemente de cualquier cambio circunstancial que les dificulte el pago. Sin embargo, debido a la pandemia, las compañías aéreas han sufrido una grave escasez de efectivo que les dificulta el cumplimiento de sus próximas obligaciones contractuales. Las compañías aéreas están debatiendo la posibilidad de invocar la fuerza mayor en estos contratos para excusar el incumplimiento y evitar daños y perjuicios; no obstante, teniendo en cuenta los desarrollos en Derecho Aéreo Internacional Privado y la naturaleza del contrato, será difícil tomar tales medidas. Este documento propone aplicar la onerosidad excesiva codificada en los Principios de Unidroit sobre Contratos Comerciales Internacionales para que las compañías aéreas puedan renegociar el contrato con los arrendadores en lugar de eludir completamente su obligación contractual. Esto proporcionará un respiro al arrendatario y también garantizará que su obligación hacia el arrendador se mantenga durante la pandemia.
publishDate 2021
dc.date.accessioned.none.fl_str_mv 2021-12-16 00:00:00
2023-01-23T16:20:20Z
dc.date.available.none.fl_str_mv 2021-12-16 00:00:00
2023-01-23T16:20:20Z
dc.date.issued.none.fl_str_mv 2021-12-16
dc.type.spa.fl_str_mv Artículo de revista
dc.type.coar.eng.fl_str_mv http://purl.org/coar/resource_type/c_2df8fbb1
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dc.type.content.eng.fl_str_mv Text
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dc.type.local.eng.fl_str_mv Journal article
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dc.identifier.doi.none.fl_str_mv 10.14718/NovumJus.2021.15.E.8
dc.identifier.eissn.none.fl_str_mv 2500-8692
dc.identifier.issn.none.fl_str_mv 1692-6013
dc.identifier.uri.none.fl_str_mv https://hdl.handle.net/10983/29748
dc.identifier.url.none.fl_str_mv https://doi.org/10.14718/NovumJus.2021.15.E.8
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url https://hdl.handle.net/10983/29748
https://doi.org/10.14718/NovumJus.2021.15.E.8
dc.language.iso.eng.fl_str_mv eng
language eng
dc.relation.bitstream.none.fl_str_mv https://novumjus.ucatolica.edu.co/article/download/4056/3977
dc.relation.citationedition.spa.fl_str_mv Núm. Especial , Año 2021 : Vol. 15 Número Especial
dc.relation.citationendpage.none.fl_str_mv 101
dc.relation.citationissue.spa.fl_str_mv Especial
dc.relation.citationstartpage.none.fl_str_mv 79
dc.relation.citationvolume.spa.fl_str_mv 15
dc.relation.ispartofjournal.spa.fl_str_mv Novum Jus
dc.relation.references.eng.fl_str_mv Award 116 of 20 January of 1997 of the International Arbitration Court of the chamber of the commerce and Industry of the Russian Federation. Award of 30 November of 2006 of Centro de Arbitraje de Mexico. Berger, Klaus Peter and Behn, Daniel, ‘Force Majeure and Hardship in the Age of Corona: A Historical and Comparative Study’ (2019-2020) 6 McGill J. D.R 77. ‘Force Majeure TransLex-Principle VI 3’ at VI 3 (c) <https://www.trans-lex.org/944000> accessed 20 April 2021. Bunker, Donald H. International Aircraft Financing (2d edInternational Air Transport Association 2005) ISBN-10 ‏ : ‎ 9291954365 Convention on International Interests in Mobile Equipment, (16 Nov. 2001), 2307 U.N.T.S.285, art 1(q) [ hereinafter Cape Town Convention]. Endrizalova, Eva and others, ‘Operating Lease as a Specific Form of Airlines Outsourcing’(18th international scientific conference Business Logistics in Modern Management, November 2018 <https://www.researchgate.net/publication/328829802_Operating_Lease_As_A_Specific_Form_Of_Airlines_Outsourcing> accessed 2 April 2021. Duty to renegotiate Trans Lex- Principle IV.6.7’ at IV.6.7 <https://www.trans-lex.org/935000> accessed 20 April 2021. Fattorini, Leo and others, ‘Covid-19: Where to next for Airlines and their investors?’ (Bird & Bird, March 2020 <https://www.twobirds.com/en/news/articles/2020/global/ covid19-where-to-next-for airlines-and-their-investors> accessed 5 April 2021. ‘Force Majeure in Aviation Contract’ (Winstan & Strawn LLP, April 2020). <https:// www.winston.com/en/thoughtleadership/force-majeure-in-aviation-contracts.html>accessed 4 April 2021. Fortin, Elodie ‘The Impact of coronavirus (COVID-19) on aviation finance’ (LexisNexis, March 2020 <https://www.lexisnexis.co.uk/blog/covid-19/the-impact-of-coronavirus-(covid-19)-on-aviation-finance> accessed 6 April 2021. Great Elephant Corporation v Trafigura Beheer BV [2013] EWCA Civ 907 [25]. Goode R, Convention on International Interests in Mobile Equipment and Protocol thereto on Matters specific to Aircraft Equipment: Official Commentary (UNIDROIT 2002) 175-180. Hardship Trans Lex-Principle VIII’ at VIII.1 <https://www.trans-lex.org/951000> accessed 15 April 2021. Hanley, D. P. Aircraft operating leasing: a legal and practical analysis in the context of public and private international air law. (2011, November 24). Retrieved from https://hdl.handle.net/1887/18146 Henry D. Gabriel, The Use of Soft Law in the Creation of Legal Norms in International Commercial Law: How Successful Has It Been?, 40 MICH. J. INT'L L. 413 (2019). Availableat:https://repository.law.umich.edu/mjil/vol40/iss3/3 ‘How much did the Corona hit which airline company?’ (DW made for Minds, 8 July 2020) <https://www.dw.com/tr/korona-hangi-havayolu-%C5%9Firketini-ne-kadar-vurdu/g-54488779> accessed 13 April 2021. IAS Plus, ‘IAS 17- Leases’ (Deloitte) <https://www.iasplus.com/en/standards/ias/ias17> accessed 7 April 2021. IATA Economics, ‘Airline industry will continue to burn through cash until 2022’ (IATA,9 October 2020 <https://www.iata.org/en/iata-repository/publications/economic-reports/airline-industry-will-continue-to-burn-through-cash-until-2022> accessed 13 April 2021. IATA Economics, ‘Airline Financial Monitor’ (IATA, 18 September 2020<www.iata.org/en/ iata repository/publications/economic-reports/airlines-financial-monitor-august-2020> accessed 12 April 2021. ICC award No 7365 of 5 May 1997. International Institute for the Unification of Private Law (UNIDROIT), ‘Principles of International Commercial Contracts (2016)’ [hereinafter UPICC]; United Nations Convention on Contracts for the International Sale of Goods (11 April 1980) 1489 UNTS 3, 19 ILM 668 [hereinafter CISG] International Sale of Goods (11 April 1980) 1489 UNTS 3, 19 ILM 668 [hereinafter CISG]. International Chamber of Commerce, ‘ICC Force MajeureAnd Hardship Clauses 2020: Introductory Note and Commentary’ (ICC, June 2020) <https://iccwbo.org/content/uploads/sites/3/2020/07/icc-forcemajeure-introductory-note.pdf> accessed 18 April2021. Jimenez, Hortencia ‘Commercial Aircraft Leasing and its Booming Complexities’ (MSc. Aviation Administration thesis, Middle Tennessee State University 2017). Kikoyo, Henry, ‘Liability Management for Airlines Following Complete Shut Down of Operations or Aircraft Groundings in the Wake of Coronavirus (COVID-19)’ (Brownrudnick, 26 March 2020) <https://brownrudnick.com/alert/liability management-for-airlines-following-complete-shut-down-of-operations-or-aircraft-groundings-in-the-wake-of-coronavirus-covid-19/> accessed 15 April 2021. Lease Europe and Author Andersons, Leasing in Europe (McGraw Hill Book Company 1992) 53-54. Ledebuh, Brian W. and others, ‘COVID-19, ‘“Force Majeure” Clauses and Contractual Nonperformance’ (2020)’ XI (139) TNLR <https://www.natlawreview.com/article/ covid-19-force-majeure-clauses-and contractual-nonperformance> accessed 15 April 2021. Marchisio, Giacomo, Rebus Sic Stantibus: A Comparative Analysis for International Arbitration (July 11, 2012). Available at SSRN: https://ssrn.com/abstract=2103641 or http://dx.doi.org/10.2139/ssrn.2103641 McMahon, John P. ‘Applying for Managers and Counsel: Applying the CISG’ (IICL, May 2010<https://iicl.law.pace.edu/cisg/page/guide-managers-and-counsel-applying-cisg> accessed 20 April 2021. Northern Indiana Public Service Co. v Carbon County Coal Co. [7th Cir. 1986] 799 F.2d 265 [ 275]. Nwafor, Ndubuisi Augustine Comparative and Critical Analysis of the Doctrine of Exemption/ Frustration/Force Majeure under the United Nations Convention on the Contract for International Sale of Goods, English Law and UNIDROIT Principles’ (PhD thesis, University of Stirling 2015); Pandemic bill heavier in Lufthansa’ (DW made for Minds, 21 September 2020) <www.dw.com/tr/lufthansada-pandemi faturas%C4%B1a%C4%9F%C4%B1rla%C5%9Ft %C4%B1/a-55006511> accessed 13 April 2021. People Republic of China v Netherlands [2005] CIETAC (IICL, 2005 <https://iicl.law.pace. edu/cisg/case/china-march-5-2005-translation-available> accessed 20 April 2021. Petchenik, Ian ‘Scrapping along the Bottom: April Air Traffic Statistics’ (Flightradar24, 1 May 2020 <https://www.flightradar24.com/blog/scraping-along-the-bottom-april-air-traffic statistics/> accessed 12 April 2021. Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft Equipment, (Nov. 16, 2001), 2367 U.N.T.S. 517, art VIII [hereinafter Aircraft Protocol to Cape Town Convention]. Regional: COVID-19 as Force Majeurein Aviation Contracts. Comparative Analysis across 10 Jurisdictions’ (Kinstellar, March 2020) <https://www.kinstellar.com/insights/ detail/1059/regional-covid-19-as-force majeure-in-aviation-contracts-comparative-analysis-across-10-jurisdictions> accessed 6 April 2021. Rimke, Joern. Force Majeure and Hardship: Application in International Trade Practice with Specific Regard to the CISG and the UNIDROIT Principles of International Commercial Contracts" in Pace International Law Review (ed) Review of the Convention on Contracts for the International Sale of Goods (CISG) 1999-2000 (Kluwer, The Hague, 2001) 197, 219 Scafom Int’l BV v. Tubes s.a.s., Case No. C.07.0289.N<http://www.unilex.info/case.cfm pid=2&do=case&id=1456&step=FullText> accessed 22 April 2021. Tandrin Aviation v Aero Toy Store Neutral Citation Number: [2010] EWHC 40 (Comm) Case No: CLAIM NO. 2009 / FOLIO 206 The Rebus Sic Stantibus clause in the presence of Covid-19’ (Osborne Clarke, March 2020 <https://www.osborneclarke.com/insights/rebus-sic-stantibus-clause-presence- covid-19/> accessed 17 April 2021. UNIDROIT Convention on International Financial Leasing, Ottawa (28 May 1988) [hereinafter Financial Leasing Convention]. Wool, Jefrey ‘The Next Generation of International Aviation Finance Law: An Overview of the Proposed UNIDROIT Convention on International Interests in Mobile Equipmentas Applied to Aircraft Equipment’ [1999] 20:3 U. Pa. J Int'l Econ. L 499. World Health Organization, ‘Director-General's opening remarks at the media briefingon COVID-19’ (WHO, 11 March 2020) <https://www.who.int/director-general/ speeches/detail/who-director-general-s-opening-remarks-at-the-media-briefing-on- covid-19---11-march-2020> accessed 10 April 2021. Zuvin, Serap and Can Ucarer, Onur ‘The Aircraft Financing Market after COVID-19’ (International Bar Association, 2020) <https://www.ibanet.org/article/2cb405cf-621a-4791-809f-748f09b0402d> accessed 13April 2021.
dc.rights.eng.fl_str_mv Tanya Agarwal - 2021
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rights_invalid_str_mv Tanya Agarwal - 2021
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spelling Agarwal, Tanya3f54ed75-74b9-47ba-bfb3-6bfdd572b8953002021-12-16 00:00:002023-01-23T16:20:20Z2021-12-16 00:00:002023-01-23T16:20:20Z2021-12-16La mayoría de las aeronaves se adquieren mediante contratos de leasing, y la carga financiera recae en el arrendador debido a su financiación de equipos pesados para el arrendatario en estos contratos. Por lo tanto, para garantizar que el arrendatario cumpla con el pago del arrendamiento al arrendador, se redacta en el contrato una cláusula “contra viento y marea”. Esto obliga al pago por parte del arrendatario independientemente de cualquier cambio circunstancial que les dificulte el pago. Sin embargo, debido a la pandemia, las compañías aéreas han sufrido una grave escasez de efectivo que les dificulta el cumplimiento de sus próximas obligaciones contractuales. Las compañías aéreas están debatiendo la posibilidad de invocar la fuerza mayor en estos contratos para excusar el incumplimiento y evitar daños y perjuicios; no obstante, teniendo en cuenta los desarrollos en Derecho Aéreo Internacional Privado y la naturaleza del contrato, será difícil tomar tales medidas. Este documento propone aplicar la onerosidad excesiva codificada en los Principios de Unidroit sobre Contratos Comerciales Internacionales para que las compañías aéreas puedan renegociar el contrato con los arrendadores en lugar de eludir completamente su obligación contractual. Esto proporcionará un respiro al arrendatario y también garantizará que su obligación hacia el arrendador se mantenga durante la pandemia.The majority of aircraft are acquired through leasing agreements, and the financial burden is on the lessor due to their financing of heavy equipment for the lessee in these agreements. Therefore, to ensure that the lessee fulfills their lease payment to the lessor, a “hell or high-water” clause is drafted in the contract. This enforces payment by the lessee regardless of any circumstantial changes that might make it difficult for them to pay. However, due to the pandemic, airlines have suffered from a severe cash crunch making it difficult for them to honor their upcoming contractual obligations. Airline companies are debating whether to invoke force majeure in these contracts to excuse non- performance and avoid damages; nevertheless, considering developments in Private International AirLaw and the nature of the contract, taking such measures will be difficult. This paper proposes to apply the hardship clause codified in the UNIDROIT Principles of International Commercial Contracts so that airlines can renegotiate the contract with their lessors instead of completely avoiding their contractual obligation. This will provide breathing space for the lessee, while ensuring that their obligation towards the lessor is maintained during the pandemic.application/pdf10.14718/NovumJus.2021.15.E.82500-86921692-6013https://hdl.handle.net/10983/29748https://doi.org/10.14718/NovumJus.2021.15.E.8engUniversidad Catolica de Colombiahttps://novumjus.ucatolica.edu.co/article/download/4056/3977Núm. Especial , Año 2021 : Vol. 15 Número Especial101Especial7915Novum JusAward 116 of 20 January of 1997 of the International Arbitration Court of the chamber of the commerce and Industry of the Russian Federation. Award of 30 November of 2006 of Centro de Arbitraje de Mexico. Berger, Klaus Peter and Behn, Daniel, ‘Force Majeure and Hardship in the Age of Corona: A Historical and Comparative Study’ (2019-2020) 6 McGill J. D.R 77. ‘Force Majeure TransLex-Principle VI 3’ at VI 3 (c) <https://www.trans-lex.org/944000> accessed 20 April 2021. Bunker, Donald H. International Aircraft Financing (2d edInternational Air Transport Association 2005) ISBN-10 ‏ : ‎ 9291954365 Convention on International Interests in Mobile Equipment, (16 Nov. 2001), 2307 U.N.T.S.285, art 1(q) [ hereinafter Cape Town Convention]. Endrizalova, Eva and others, ‘Operating Lease as a Specific Form of Airlines Outsourcing’(18th international scientific conference Business Logistics in Modern Management, November 2018 <https://www.researchgate.net/publication/328829802_Operating_Lease_As_A_Specific_Form_Of_Airlines_Outsourcing> accessed 2 April 2021. Duty to renegotiate Trans Lex- Principle IV.6.7’ at IV.6.7 <https://www.trans-lex.org/935000> accessed 20 April 2021. Fattorini, Leo and others, ‘Covid-19: Where to next for Airlines and their investors?’ (Bird & Bird, March 2020 <https://www.twobirds.com/en/news/articles/2020/global/ covid19-where-to-next-for airlines-and-their-investors> accessed 5 April 2021. ‘Force Majeure in Aviation Contract’ (Winstan & Strawn LLP, April 2020). <https:// www.winston.com/en/thoughtleadership/force-majeure-in-aviation-contracts.html>accessed 4 April 2021. Fortin, Elodie ‘The Impact of coronavirus (COVID-19) on aviation finance’ (LexisNexis, March 2020 <https://www.lexisnexis.co.uk/blog/covid-19/the-impact-of-coronavirus-(covid-19)-on-aviation-finance> accessed 6 April 2021. Great Elephant Corporation v Trafigura Beheer BV [2013] EWCA Civ 907 [25]. Goode R, Convention on International Interests in Mobile Equipment and Protocol thereto on Matters specific to Aircraft Equipment: Official Commentary (UNIDROIT 2002) 175-180. Hardship Trans Lex-Principle VIII’ at VIII.1 <https://www.trans-lex.org/951000> accessed 15 April 2021. Hanley, D. P. Aircraft operating leasing: a legal and practical analysis in the context of public and private international air law. (2011, November 24). Retrieved from https://hdl.handle.net/1887/18146 Henry D. Gabriel, The Use of Soft Law in the Creation of Legal Norms in International Commercial Law: How Successful Has It Been?, 40 MICH. J. INT'L L. 413 (2019). Availableat:https://repository.law.umich.edu/mjil/vol40/iss3/3 ‘How much did the Corona hit which airline company?’ (DW made for Minds, 8 July 2020) <https://www.dw.com/tr/korona-hangi-havayolu-%C5%9Firketini-ne-kadar-vurdu/g-54488779> accessed 13 April 2021. IAS Plus, ‘IAS 17- Leases’ (Deloitte) <https://www.iasplus.com/en/standards/ias/ias17> accessed 7 April 2021. IATA Economics, ‘Airline industry will continue to burn through cash until 2022’ (IATA,9 October 2020 <https://www.iata.org/en/iata-repository/publications/economic-reports/airline-industry-will-continue-to-burn-through-cash-until-2022> accessed 13 April 2021. IATA Economics, ‘Airline Financial Monitor’ (IATA, 18 September 2020<www.iata.org/en/ iata repository/publications/economic-reports/airlines-financial-monitor-august-2020> accessed 12 April 2021. ICC award No 7365 of 5 May 1997. International Institute for the Unification of Private Law (UNIDROIT), ‘Principles of International Commercial Contracts (2016)’ [hereinafter UPICC]; United Nations Convention on Contracts for the International Sale of Goods (11 April 1980) 1489 UNTS 3, 19 ILM 668 [hereinafter CISG] International Sale of Goods (11 April 1980) 1489 UNTS 3, 19 ILM 668 [hereinafter CISG]. International Chamber of Commerce, ‘ICC Force MajeureAnd Hardship Clauses 2020: Introductory Note and Commentary’ (ICC, June 2020) <https://iccwbo.org/content/uploads/sites/3/2020/07/icc-forcemajeure-introductory-note.pdf> accessed 18 April2021. Jimenez, Hortencia ‘Commercial Aircraft Leasing and its Booming Complexities’ (MSc. Aviation Administration thesis, Middle Tennessee State University 2017). Kikoyo, Henry, ‘Liability Management for Airlines Following Complete Shut Down of Operations or Aircraft Groundings in the Wake of Coronavirus (COVID-19)’ (Brownrudnick, 26 March 2020) <https://brownrudnick.com/alert/liability management-for-airlines-following-complete-shut-down-of-operations-or-aircraft-groundings-in-the-wake-of-coronavirus-covid-19/> accessed 15 April 2021. Lease Europe and Author Andersons, Leasing in Europe (McGraw Hill Book Company 1992) 53-54. 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Zuvin, Serap and Can Ucarer, Onur ‘The Aircraft Financing Market after COVID-19’ (International Bar Association, 2020) <https://www.ibanet.org/article/2cb405cf-621a-4791-809f-748f09b0402d> accessed 13April 2021.Tanya Agarwal - 2021info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial 4.0.http://creativecommons.org/licenses/by-nc/4.0https://novumjus.ucatolica.edu.co/article/view/4056Aircraft Leasing AgreementHell or High-water clauseForce MajeureHardshipnonperformancerenegotiationcontrato de arrendamiento de aeronavescláusula “contra viento y marea”fuerza mayoronerosidad excesivaincumplimientorenegociacióncontrato de arrendamento de aeronaves“contra todas as probabilidades”força maioronerosidade excessivadescumprimentorenegociaçãoRevaluación de los contratos de arrendamiento de aeronaves de la era de la pandemia: Cómo navegar los retos de invocar la fuerza mayor mediante la aplicando de onerosidad excesiva en el Derecho mercantil internacionalRevaluating aircraft leasing contracts in the pandemic era: navigating the challenges of invoking force-majeure by applying hardship under international commercial LawArtículo de revistahttp://purl.org/coar/resource_type/c_2df8fbb1http://purl.org/coar/version/c_970fb48d4fbd8a85Textinfo:eu-repo/semantics/articleJournal articlehttp://purl.org/redcol/resource_type/ARTinfo:eu-repo/semantics/publishedVersionPublicationOREORE.xmltext/xml2761https://repository.ucatolica.edu.co/bitstreams/bfafb136-6ea6-449a-901c-c75e925b6cda/download9669b7bc44da06b5db4ae70021a967acMD5110983/29748oai:repository.ucatolica.edu.co:10983/297482023-03-24 14:46:52.274http://creativecommons.org/licenses/by-nc/4.0Tanya Agarwal - 2021https://repository.ucatolica.edu.coRepositorio Institucional Universidad Católica de Colombia - RIUCaCbdigital@metabiblioteca.com