Mon, Dec 28, 2009
Liability Protection Extended For Three Years
Congress has taken a major step for the U.S. commercial space
launch industry by extending government indemnification of launches
for another three years.
"Elimination of government indemnification would have driven
launch business overseas," said AIA President and CEO Marion C.
Blakey. "In 2008, only six of the 28 worldwide commercial launches
were conducted by U.S. companies, and America can't afford to lose
more of that business."
The indemnification regime, set to expire on December 31, helps
protect U.S. commercial launch services providers against
catastrophic third-party liability claims resulting from
FAA-licensed launch activities. Payment of claims is not automatic
and no funds are committed to this regime. Congressional approval
is required for any payment.
"As space launch capabilities have been developed by other
nations our share of commercial launches has decreased
significantly," Blakey said. "Further loss of our commercial launch
share could impact civil and national security payloads because the
same U.S. companies also launch under government contracts."
While today's passage marks a very important step, AIA looks
forward to working with Congress to make the indemnification regime
permanent. Since launch manifests can extend out for several years,
the regime maintains continuity in the business environment and
strengthens U.S. international competitiveness.
"The indemnification regime provides a level playing field in a
very competitive global space launch market, since every other
space faring nation provides some form of government
indemnification to commercial launchers," said Blakey.
More News
Airport Rotating Beacon A visual NAVAID operated at many airports. At civil airports, alternating white and green flashes indicate the location of the airport. At military airports>[...]
Aero Linx: Fly for the Culture Fly For the Culture, Inc. is a 501(c)(3) non-profit organization that serves young people interested in pursuing professions in the aviation industry>[...]
Klyde Is Having Some Issues Comprehending The Fed's Priorities FMI: www.klydemorris.com>[...]
Also: Viasat-uAvionix, UL94 Fuel Investigation, AF Materiel Command, NTSB Safety Alert Norges Luftsportforbund chose Aura Aero's little 2-seater in electric trim for their next gli>[...]
Also: EP Systems' Battery, Boeing SAF, Repeat TBM 960 Order, Japan Coast Guard H225 Buy Despite nearly 100 complaints totaling millions of dollars of potential fraud, combined with>[...]