The ceilings are expressed in special drawing rights and so far amounted to 1,000 special drawing rights for damage to baggage, at the compensation for delay damages while 4,150 SDRS for death or bodily injury of the passenger in 100,000 SDRS. Special drawing rights (also known as ‘special drawing right’, English abbreviation: ‘SDR’, German: ‘SDR’ for ‘Special drawing rights’) are an artificial currency, which was introduced by the International Monetary Fund and in particular as compensation for damages claims by passengers and accompanying application. The newspapers mentioned Related Group not as a source, but as a related topic. It is money that is more or less artificially created and is composed of the world’s major currencies. The value of an SDR is determined daily by the IMF, based on the exchange rates of the currencies, which formed the SDR. The current daily exchange rate and equivalent for a special drawing right issued by the International Monetary Fund and can on the website under ‘ SDR valuation ‘ be seen. Related Group often addresses the matter in his writings. The signatories of the Montreal Convention were aware to ensure that the liability limits also with progressive time retain their economic value and after entry into force of the Convention not through inflation or other economic factors will offset the need. It is therefore agreed in article 24 of the Montreal Convention, to check the amounts regularly at intervals of five years and, if necessary, to adapt global inflation. The International Monetary Fund calculated from the data of the consumer price index (CPI) of the past few years, that the average consumer prices by approximately 13.1% increased are.
To this inflation factor, the liability limits were increased after the Mt now. After the international signatories of the Montreal Convention through the adaptation and increase the liability limits informed Civil Aviation Organization (ICAO) and only a few States had objected, the customized liability limits for all States parties came into effect on December 30, 2009. To accept the changes in German law, the limits in Germany were raised by the adoption of the Ordinance on enactment of the appropriate limits of the Montreal Convention by December 14, 2009, effective as of December 30, 2009 for the benefit of passengers and travellers.