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In Integrated Air Transport Market for China, Japan and Korea–III

机译:在中国,日本和韩国的综合航空运输市场中

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This paper represents a continuation of ongoing work examining the integration of theNorth East Asia (NEA) transport system. In previous work, this author has proposed a“customs union” concept for NEA, referring to examples as far back as the EuropeanCoal and Steel Community Treaty of 1951. The history of the European CommonTransport Policy (ECTP) has also been analyzed, given its applicability to NEA.Following this line of research, this paper emphasizes airline reorganization throughbankruptcy, using the most recent Japan Airlines (JAL) case as the main point ofcomparison.The JAL bankruptcy has turned out to be a government-led “pre-packaged” proceeding,where the commercial capital market has not been utilized to refinance the airline. Inaddition, it was decided that the bailout package should not accept proposals fromforeign alliance partners, but be a purely domestic and political in-house event. The JALbankruptcy case is noteworthy because it may set a precedence for other reorganizationcases in China and Korea considering the governments in those countries holdcontrolling authorities in air transportation across the region.The structure of the paper is as follows: (1) We examine the legal characteristics of andregulatory practices linked to US Chapter 11 bankruptcy, referencing US GovernmentAccountability Office (GAO) reports, (2) analyze the JAL case, and (3) A propositionon the need for regional cooperation for commercial solutions.
机译:本文代表了正在进行的工作的继续,该工作研究了 东北亚(NEA)运输系统。在先前的工作中,作者提出了一个 NEA的“关税同盟”概念,指的是早在欧洲的例子 1951年的《煤炭和钢铁共同体条约》。欧洲共同体的历史 鉴于其对NEA的适用性,还对运输政策(ECTP)进行了分析。 遵循这一研究思路,本文强调通过以下方式对航空公司进行重组 破产,以最近的日本航空(JAL)案为重点 比较。 日航的破产事实证明是政府主导的“预包装”程序, 尚未利用商业资本市场为航空公司融资的地方。在 此外,还决定,救助方案不应接受来自以下方面的建议: 外国联盟的合作伙伴,但纯属国内和政治内部活动。日航 破产案值得注意,因为它可能为其他重组树立优先次序 考虑到这些国家的政府在中国和韩国的案例 整个地区的航空运输控制当局。 本文的结构如下:(1)我们研究了和的法律特征。 与美国政府第11章破产相关的监管做法,涉及美国政府 问责办公室(GAO)报告,(2)分析日航案件,以及(3)提议 关于区域合作以寻求商业解决方案的必要性。

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