FREE ELECTRONIC LIBRARY - Online materials, documents

Pages:     | 1 |   ...   | 10 | 11 || 13 | 14 |   ...   | 36 |

«As filed with the United States Securities and Exchange Commission on July 26, 2016 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. ...»

-- [ Page 12 ] --

The cost of insurance coverage for certain third-party liabilities arising from “acts of war” or terrorism increased dramatically as a result of the September 11, 2001 terrorist attacks. In the immediate aftermath, aircraft liability war indemnities for amounts above $50 million were, in the absence of any alternative coverage, provided by the Irish Government at pre-September 11, 2001 levels of coverage on the basis of a per-passenger surcharge. In March 2002, once such coverage was again commercially available, Ryanair arranged coverage to replace that provided by the government indemnity. The replacement insurance coverage operated on the basis of a per-passenger surcharge with an additional surcharge based on hull values. Ryanair’s insurers have indicated that the scope of the Company’s current war-related insurance coverage may exclude certain types of catastrophic incidents, which may result in the Company seeking alternative coverage.

During the 2006 fiscal year, Ryanair established Aviation Insurance (IOM) Limited (“AIL”), a wholly owned insurance company subsidiary, to provide the Company with self-insurance as part of its ongoing risk-management strategy. AIL underwrites a portion of the Company’s aviation insurance program, which covers not only the Company’s aircraft but also its liability to passengers and to third parties. AIL reinsures virtually all of the aviation insurance risk it underwrites with recognized third parties in the aviation reinsurance market, with the amount of AIL’s maximum aggregate exposure not currently subject to such reinsurance agreements being equal to approximately $16.1 million. In addition to aviation insurance, AIL has underwritten most of the single trip travel insurance policies sold on Ryanair.com since February 1, 2011.

Council Regulation (EC) No. 2027/97, as amended by Council Regulation (EC) No. 889/2002, governs air carrier liability. This legislation provides for unlimited liability of an air carrier in the event of death or bodily injuries suffered by passengers, implementing the Warsaw Convention of 1929 for the Unification of Certain Rules Relating to Transportation by Air, as amended by the Montreal Convention of 1999. Ryanair has extended its liability insurance to meet the appropriate requirements of the legislation. See “Item 3. Key Information—Risk Factors—Risks Related to the Airline Industry—The Company Faces the Risk of Loss and Liability” for information on the Company’s risks of loss and liability.

–  –  –

Ryanair has agreements with the DAA, the Irish government authority charged with operating Dublin Airport, to lease check-in counters and other space at the passenger and cargo terminal facilities at Dublin Airport. The airport office facilities used by Ryanair at London (Stansted) are leased from the airport authority; similar facilities at each of the other airports Ryanair serves are provided by Swissport Limited or other service providers.


Ryanair’s logo and the slogans “Ryanair.com The Low Fares Website” and “Ryanair The Low Fares Airline” have been registered as European Union Trade Marks (“EUTMs”). Ryanair has also registered the EUTM for the word “Ryanairhotels.com.” Ryanair filed an application for registration of the slogan “Low Fares. Made Simple” in late

2014. The trademark was partially registered. An EUTM allows a trademark owner to obtain a single registration of its trademark, which registration affords uniform protection for that trademark in all EU member states. The registration gives Ryanair an exclusive monopoly over the use of its trade name with regard to similar services and the right to sue for trademark infringement should another party use an identical or confusingly similar trademark in relation to identical, or similar services.

Ryanair has not registered either its name or its logo as a trademark in Ireland, as EUTM-registration provides all of the protection available from an Irish registration, and management believes there are therefore no advantages in making a separate Irish application.

Ryanair’s trademarks include:

• European Union (Word) Trade Mark registration number 004168721 comprised of the word “Ryanair” in classes 16, 28, 35, 36, 37, 38, 39 and 42 (Nice Classification);

• European Union (Figurative) Trade Mark registration number 001493329 comprising the following graphic


in classes 16, 35, 36, 37, 38, 39 and 42 (Nice Classification) and class 27.5.1 (Vienna classification);

• European Union (Figurative) Trade Mark registration number 00446559 comprising the following graphic


in classes 16, 35, 36, 37, 38, 39 and 42 (Nice Classification) and class 22.1.16 (Vienna classification);

• European Union (Figurative) Trade Mark registration number 000338301

comprising the following graphic representation:

in classes 16, 35, 36, 37, 38, 39 and 42 (Nice Classification) and class 22.1.16 (Vienna classification)

–  –  –

Liberalization of the EU Air Transportation Market Ryanair began its flight operations in 1985, during a decade in which the governments of Ireland and the U.K. liberalized the bilateral arrangements for the operation of air services between the two countries. In 1992, the Council of Ministers of the EU adopted a package of measures intended to liberalize the internal market for air transportation in the EU. The liberalization included measures that allow EU air carriers substantial freedom to set air fares, provided EU air carriers greatly enhanced access to routes within the EU, and also introduced a licensing procedure for EU air carriers. Beginning in April 1997, EU air carriers have generally been able to provide passenger services on domestic routes within any EU member state outside their home country of operations without restriction.

Regulatory Authorities Ryanair is subject to Irish and EU regulation, which is implemented primarily by the Department of Transport, Tourism and Sport (“DTTAS”), the Irish Aviation Authority (“IAA”), the European Commission, and the EASA. Management believes that the present regulatory environment in Ireland and the EU is characterized by high sensitivity to safety and security issues, which is demonstrated by intensive reviews of safety-related procedures, training, and equipment by the national and EU regulatory authorities.

Commission for Aviation Regulation “CAR”. The CAR is currently primarily responsible for deciding maximum airport charges only at Dublin Airport. See “⎯Airport Operations⎯Airport Charges” above.

The CAR also has responsibility for licensing Irish airlines, subject to the requirements of EU law. It issues operating licenses under the provisions of EU Regulation 1008/2008 (formerly 2407/92). An operating license is an authorization permitting the holder to transport passengers, mail and/or cargo by air. The criteria for granting an operating license include, inter alia, an air carrier’s financial fitness, the adequacy of its insurance, and the fitness of the persons who will manage the air carrier. In addition, in order to obtain and maintain an operating license, Irish and EU regulations require that (i) the air carrier must be owned and continue to be owned directly or through majority ownership by EU member states and/or nationals of EU member states and (ii) the air carrier must at all times be effectively controlled by such EU member states or EU nationals. The CAR has broad authority to revoke an operating license. See “Item 10. Additional Information––Limitations on Share Ownership by Non-EU Nationals.” See also “Item 3. Risk Factors––Risks Related to Ownership of the Company’s Ordinary Shares or ADRs—EU Rules Impose Restrictions on the Ownership of Ryanair Holdings’ Ordinary Shares by Non-EU nationals and the Company has Instituted a Ban on the Purchase of Ordinary Shares by Non-EU Nationals” above.

Ryanair’s current operating license became effective on December 1, 1993, and is subject to periodic review.

The Flight Operations Department is also subject to ongoing review by the IAA, which reviews the department’s audits, including flight audits, training audits, returned flight document (RFD) audits, and quality audits. Ryanair’s current Air Operator Certificate (“AOC”) No IE 7/94 was issued on October 28, 2014. There is no expiration date on the AOC.

Irish Aviation Authority. The IAA is primarily responsible for the operational and regulatory function and services relating to the safety, security and technical aspects of aviation in Ireland. To operate in Ireland and the EU, an Irish air carrier is required to hold an AOC granted by the IAA attesting to the air carrier’s operational and technical competence to conduct airline services with specified types of aircraft. The IAA has broad authority to amend or revoke an AOC, with Ryanair’s ability to continue to hold its AOC being subject to ongoing compliance with applicable statutes, rules and regulations pertaining to the airline industry, including any new rules and regulations that may be adopted in the future.

The IAA is also responsible for overseeing and regulating the operations of Irish air carriers. Matters within the scope of the IAA’s regulatory authority include: air safety; aircraft certification; personnel licensing and training;

maintenance, manufacture, repair, airworthiness, and operation of aircraft; implementation of EU legislation; aircraft noise; aviation security and ground services. Each of the Company’s aircraft is required to have a Certificate of Airworthiness, which is issued by the IAA. The validity of Certificates of Airworthiness is subject to the review by the IAA. Each certificate is generally valid for a 12-month period. In March 2009, Ryanair received “Sub-Part (I) approval” from the IAA, which gives Ryanair the authority to extend the validity of its certificates, subject to certain record checks and physical aircraft inspections being performed by Ryanair’s quality department. The Company’s flight personnel, flight and emergency procedures, aircraft, and maintenance facilities are subject to periodic inspections by the IAA. The IAA has broad regulatory and enforcement powers, including the authority to require reports; inspect the books, records, premises, and aircraft of a carrier; and investigate and institute enforcement proceedings. Failure to comply with IAA regulations can result in revocation of the AOC.

In July 1999, the IAA awarded Ryanair a JAR Ops 1 AOC. In 2008, the IAA awarded Ryanair an EU Ops AOC. In 2014, the IAA awarded Ryanair an Air Ops AOC. This AOC remains in force subject to Ryanair demonstrating continuing compliance with applicable EASA regulations. The requirements of Air Ops have been incorporated into European law as prescribed in Regulation EC 965/2012 and were applied in full on October 28,

2014. All current regulatory requirements are addressed in the Ryanair Operations Manual Part A (as amended). The current Manual, Issue 1 Revision 1, was approved by the IAA on June 27, 2016.

Department of Transport, Tourism and Sport. The Department of Transport, Tourism and Sport (“DTTAS”) is responsible for implementation of certain EU and Irish legislation and international standards relating to air transport.

In June 2005, the Irish Minister for Transport enacted legislation strengthening rights for air passengers following the enactment of EU legislation requiring compensation of airline passengers who have been denied boarding on a flight for which they hold a valid ticket (Regulation (EC) No. 261/2004), which came into force on February 17, 2005. See “Item 3. Risk Factors—Risks Related to the Airline Industry—EU Regulation on Passenger Compensation Could Significantly Increase Related Costs.” The European Aviation Safety Agency. EASA is an agency of the EU that has been given specific regulatory and executive tasks in the field of aviation safety. EASA was established through Regulation (EC) No. 1592/2002 of the European Parliament and the Council of July 15, 2002, repealed by Basic Regulation (EC) 216-2008. The purpose of EASA is to draw-up common standards to ensure the highest levels of safety, oversee their uniform application across Europe and promote them at the global level. The EASA formally started its work on September 28, 2003, taking over the responsibility for regulating airworthiness, maintenance and air crew issues within the EU member states.

Eurocontrol. The European Organization for the Safety of Air Navigation (“Eurocontrol”) is an autonomous European organization established under the Eurocontrol Convention of December 13, 1960. Eurocontrol is responsible for, inter alia, the safety of air navigation and the collection of route charges for en route air navigation facilities and services throughout Europe. Ireland is a party to several international agreements concerning Eurocontrol. These agreements have been implemented in Irish law, which provides for the payment of charges to Eurocontrol in respect of air navigation services for aircraft in airspace under the control of Eurocontrol. The relevant legislation imposes liability for the payment of any charges upon the operators of the aircraft in respect of which services are provided and upon the owners of such aircraft or the managers of airports used by such aircraft. Ryanair, as an aircraft operator, is primarily responsible for the payment to Eurocontrol of charges incurred in relation to its aircraft.

The legislation authorizes the detention of aircraft in the case of default in the payment of any charge for air navigation services by the aircraft operator or the aircraft owner, as the case may be. This power of detention extends to any equipment, stores or documents, which may be onboard the aircraft when it is detained, and may result in the possible sale of the aircraft.

European Commission. The European Commission is in the process of introducing an updated legislative package to its “single European sky policy,” called “SES2+”, which would lead to changes to air traffic management and control within the EU. The “single European sky policy” currently consists of the Framework Regulation (Reg.

Pages:     | 1 |   ...   | 10 | 11 || 13 | 14 |   ...   | 36 |

Similar works:

«Environmental and Social Review Summary Senegal Cross Currency Swap II This Environmental and Social Review Summary (ESRS) is prepared by MIGA staff and disclosed prior to the date on which MIGA’s Board of Directors considers the proposed issuance of a Contract of Guarantee. Its purpose is to enhance the transparency of MIGA’s activities. This document should not be construed as presuming the outcome of the decision by MIGA’s Board of Directors. Board dates are estimates only. Any...»

«Looking Towards Tomorrow: A Study on the Reintegration of Trafficking Survivors A partnership project between Asha Nepal, Shakti Samuha and Terre des hommes Foundation © Asha Nepal, Terre des hommes Foundation and Shakti Samuha January 2012 Authors: Laura Buet, Peter Bashford, Muna Basnyat Table of Contents Page Acknowledgements The Research Team Prefaces Asha Nepal Terre des hommes Foundation Shakti Samuha How this study happened? Chapter One 1.The Study 1.1 Background 1.2 Purpose Chapter Two...»

«Nations in Transit 2006 HUNGARY Nations in Transit Ratings and Averaged Scores Electoral 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 Process Civil Society 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 Independent 1.50 1.50 2.00 2.25 2.25 2.25 2.25 2.50 2.50 Media Governance* 1.75 1.75 2.50 3.00 3.00 2.50 2.50 n/a n/a National Democratic n/a n/a n/a n/a n/a n/a n/a 2.00 2.00 Governance Local Democratic n/a n/a n/a n/a n/a n/a n/a 2.25 2.25 Governance Judicial Framework and 1.75 1.75 1.75 2.00...»

«DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency 12 CFR Parts 30 and 170 [Docket ID OCC-2014-001] RIN 1557-AD78 OCC Guidelines Establishing Heightened Standards for Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches; Integration of Regulations AGENCY: Office of the Comptroller of the Currency, Treasury. ACTION: Final rules and guidelines. SUMMARY: The Office of the Comptroller of the Currency (OCC) is adopting guidelines,...»

«GROUP 3 EFFECTIVE MEASURES IN THE COMMUNITY-BASED TREATMENT OF JUVENILE OFFENDERS AND ENHANCEMENT OF THE JUVENILE’S ABILITY TO REINTEGRATE INTO SOCIETY Chairperson Ms. Loupua Kuli (Tonga) Co-Chairperson Mr. Braam Paul Korff (South Africa) Rapporteur Mr. Henry Asaah Ngu Ndama (Cameroon) Co-Rapporteurs Ms. Iacy Monteiro Braga Caracelli (Brazil) Ms. Suwa Imai (Japan) Members Mr. Abdelkhoder Mahdi Al-Taher (Iraq) Mr. Cesar Alexis Luiz Rodriguez (Honduras) Mr. Satoshi Imamura (Japan) Visiting...»

«TupleRank: Ranking Discovered Content in Virtual Databases Jacob Berlin and Amihai Motro Information and Software Engineering Department George Mason University, Fairfax, VA 22030, USA {jberlin, ami}@gmu.edu Abstract. Recently, the problem of data integration has been newly addressed by methods based on machine learning and discovery. Such methods are intended to automate, at least in part, the laborious process of information integration, by which existing data sources are incorporated in a...»

«GERMANY, JUNE 15 19 BERLIN 2014 6 th International Workshop on Crystal Growth Technology THE FUTURE OF Advances in bulk crystal growth of semiconductor & photovoltaic materials CRYSTAL GROWTH Optical and laser crystals TECHNOLOGY – Scintillators, piezoand magnetoelectrics BRINGING NEW Substrates for wide band-gap and oxide semiconductors Growth control, quality assurance, and management of TECHNOLOGIES TO resources INDUSTRIAL GROWTH Crystal shaping and layer transfer technologies APPLICATION...»

«JOHN CALVIN Response To Questions And Objections Of A Certain Jew Translated By Clement Pulaski Copyright 2015 truesonsofabraham.com RESPONSE TO QUESTIONS AND  OBJECTIONS OF A CERTAIN JEW ~ AD QUAESTIONES ET OBIECTA IUDAEI  CUIUSDAM By John Calvin Translation, Commentary and Notes by Clement Pulaski TABLE OF CONTENTS I. Introduction II. Translation III. Selections from Calvin's Bible Commentaries I. Introduction Martin Luther's opinion on Judaism is infamous, while the view of John...»


«Perry County Nursing Home Linden, Tennessee Cost Reports for the Periods December 1, 1998, Through December 31, 1999, and January 1 Through December 31, 2000, and Resident Accounts for the Period January 1 Through December 31, 2000 Arthur A. Hayes, Jr., CPA, JD, CFE Director Ronald M. Paolini, CPA Assistant Director Gregg S. Hawkins, CPA Steve Phillips, CPA, CFE, CGFM Audit Manager In-Charge Auditor Tammy S. Thompson Amy Brack Auditor Editor Comptroller of the Treasury, Division of State Audit...»

«1193 PERPETUATING CONFUSION IN THE COMMERCIAL SPEECH AREA: ADOLPH COORS CO. V. BRADY INTRODUCTION The United States Supreme Court is currently redefining the status of commercial speech under the First Amendment.1 In 1942, the Supreme Court held that commercial speech fell outside the scope of First Amendment protection. 2 In 1976, the Supreme Court began reforming the scope of First Amendment protection to gradually bring commercial speech under the protection of the First Amendment.3 This...»

«OFFICE OF THE TRAFFIC COMMISSIONER (WALES) (CYMRU) NOTICES AND PROCEEDINGS PUBLICATION NUMBER: 1984 PUBLICATION DATE: 01 August 2013 OBJECTION DEADLINE DATE: 22 August 2013 Correspondence should be addressed to: Office of the Traffic Commissioner (Wales) (Cymru) Hillcrest House 386 Harehills Lane Leeds LS9 6NF Telephone: 0300 123 9000 Fax: 0113 249 8142 Website: www.gov.uk The public counter at the above office is open from 9.30am to 4pm Monday to Friday The next edition of Notices and...»

<<  HOME   |    CONTACTS
2017 www.thesis.dislib.info - Online materials, documents

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.