Proposed International Aeronautical Monetary Fund - Legal and Practical Implications
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1998-01-01
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Abstract:The proposed international aeronautical monetary fund has its genesis in the Latin American Civil Aviation Commission (LACAC) which proposed the inauguration of the fund to finance air navigation services provided by the satellite based Communications, Navigation, Surveillance/Air Traffic Management (CNS/ATM) system. It was the consensus of LACAC that the fund should be created by international agreement with an international bank established to receive and administer the financing of the CNS/ATM. The overriding principle of the aeronautical monetary fund remained that its administration should be supervised by the International Civil Aviation Organization. This paper will introduce the conceptual and practical evolution of the aeronautical monetary fund from its inception to date and analyze its legal and practical implications for the future of civil aviation. Endnotes, 12p.
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