Aviation Capital Group (ACG) has prevailed in the appeal filed by Olympic Airlines (Olympic) concerning the April 2012 trial judgment in ACG’s favour (see Airline Economics Issue 9 for the full story of the original judgment), a case that attracted considerable attention in the aircraft leasing industry. The UK Court of Appeal decision dismissed Olympic’s appeal and upheld the trial court’s judgment that Olympic was bound by its acceptance of a leased aircraft and, going further than the trial court’s judgment, validated that ACG’s lease agreement was effective in itself to transfer to Olympic at delivery the risks for the

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