Thailand became the 127th country to ratify the Montreal Convention, earlier this month, that identifies an airline’s liability to its customers.
Earlier this month, Thailand became the 127th party to ratify the Montreal Convention of 1999 when the instrument of accession was deposited with the International Civil Aviation Organization (ICAO). It is expected to come into force in Thailand in October 2017.
IATA says MC99 modernises and replaces the limits on liability set by the Warsaw Convention, which was established in 1929 and was last amended in 1975.
Established in 1999, travellers could be forgiven for thinking Thailand’s airlines were al is an accident causing injury or loss of life.
And, as a global standard, MC99 gives passengers and airlines a common set of rules that bring simplicity and reduces the chances of long and complex litigation processes.
$7.2 trillions of goods is carried by airlines around the world each year
Each year airlines carry goods with a total value of $7.2 trillion—about a third of world trade. MC99 sets the framework for those goods to be processed electronically. And that is a key element of the World Trade Organization’s Trade Facilitation Agreement which, when fully implemented, is expected to cut the cost of trade by 14% and boost exports by 3.5% annually.
With Thailand set to rank among the world’s top ten aviation markets by 2032 that potential is significant. Already aviation supports 3.3 million jobs and $48 billion of economic activity in the Kingdom.
commented Alexandre de Juniac (IATA CEO) on his blog
Overall, this is a positive and welcome development – it means aviation claims in…