The U.S. Department of Transportation has issued updated guidance regarding charter prospectus filings and charter operations. This latest guidance was reportedly meant to address the inconveniences and issues that arose in connection with charter operator Direct Air’s cessation of service. Notice 380 jan14 2 website (5) In addition, the Department has prepared draft “assurances” that will need to accompany any charter prospectus filing and confirm certain steps have been taken by the public charter operator, direct air carrier, and/or escrow bank. The Department has invited comments on the draft assurances, which are provided here. Sample P C Assurances Jan 25 (3)
