The digital manual aims to advise startup airlines on why insurance is “critical”, which insurance policies should be accessed, as well as “providing advice on timelines and finalising insurance placements”.
Using a digital interactive format, the toolkit allows startups to access “detailed information” to suit their individual needs.
This includes advice on utilising third party maintenance and repair services, Aircraft Lease agreements, ground handling services and provides examples of “geographic regulatory requirements”.
John Rooley, head of global aerospace, Willis Towers Watson, said “While we are seeing that global passenger volumes remain stifled by the pandemic as the virus fluctuates, there is a growing consensus that many startup airlines are launching from positions of strength, with investors attracted by lower leasing rates since the beginning of the pandemic.
“Whether new carriers plan to start operations with one aircraft or ten, owning an airline is a complex, capital-intensive business. This innovative new toolkit, encapsulating years of expertise, enables new airline businesses to have a deep understanding of the wider risk landscape and the complex insurance requirements when establishing a new airline.”