in Aerospace

EASA offers financial relief to COVID-19 hit aviation industry

Posted 14 May 2020 · Add Comment

The European Union Aviation Safety Agency (EASA) has agreed on concrete measures that will offer financial relief to companies in the aviation industry whose business has been severely impacted by the COVID-19 crisis.

Courtesy EASA

These measures take account of the continued sustainability of EASA and have been agreed with the support of the European Commission.

The Agency will for a limited period not charge interest in cases of late payment, as provided for in Article 4.3 of the Fees and Charges Regulation.*

For all invoices issued between 1st February 2020 and 30th June 2020, the late payment clock has been stopped and will restart only on 1st July 2020.

Wednesday 1st July 2020 will be considered as the 31st day of payment and therefore late payment interest will be applied from that day.

EASA will postpone the issuance of its regular invoices for annual fees for two months, from June to August.  The annual invoices will be issued on 1st August 2020 and late payment interest will apply from the 31st day (so from 31st August 2020).

*"4.3. Where payment of an invoice has not been received by the Agency after the time period referred to in paragraph 2, the Agency may charge interest for each calendar day of delay."

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