Breaking news

IATA Criticizes Changes To EU Passenger Rights Framework

Critical Evaluation Of Revised Passenger Rights Framework

The International Air Transport Association (IATA) has criticized the latest revisions to Europe’s passenger rights rules, arguing that the changes do not address the underlying issues within the long-standing EU261 framework. According to the industry body, the amendments introduce only limited adjustments while leaving broader operational challenges unresolved.

Incremental Adjustments, Operational Challenges

Among the changes adopted are a non-exhaustive list of extraordinary circumstances and new requirements for airports to develop contingency plans for accommodating passengers during large-scale disruptions. IATA argues that the revised framework continues to impose significant costs on the aviation sector, estimating the annual burden at around €8 billion. The organization maintains that these costs ultimately affect both airline operations and the passenger experience.

Systemic Issues And Industry Concerns

Data from Eurocontrol indicates that a substantial proportion of delays stems from shortcomings in Europe’s air traffic management system rather than factors directly controlled by airlines.

IATA had supported proposals by the European Commission to extend delay thresholds before compensation obligations apply. According to the association, such changes would have given carriers more flexibility to arrange alternative travel options during disruptions.

However, the proposal was scaled back during negotiations with the European Parliament, while additional measures were introduced with limited consultation with industry stakeholders.

Industry Leaders Call For Meaningful Reform

IATA Director General Willie Walsh said the latest agreement represented a missed opportunity to address shortcomings in the EU261 framework. “After 13 years of discussion, the opportunity to improve Europe’s competitiveness and the passenger experience by addressing the flaws of EU261 was lost,” Walsh said. He added that the approved changes are unlikely to reduce delays and could instead increase operational complexity and costs for airlines, with passengers ultimately bearing the impact.

Looking Ahead: Enforcement And Strategic Overhaul

Attention is now turning to the next phase of negotiations, including an enforcement package that will be discussed by the Council and the European Parliament. According to Walsh, the priority should be the practical and consistent implementation of regulations while avoiding additional burdens on the aviation sector.

IATA also called on European policymakers to address structural issues in air traffic management as part of the bloc’s upcoming Aviation Strategy, arguing that improvements in this area are essential for enhancing performance and competitiveness across the industry.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

The Future Forbes Realty Global Properties
Aretilaw firm
eCredo
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter