In a European version of the US Equitime scheme to provide airlines with cover for war risks, insurance brokers Aon and Willis have announced a joint project called Eurotime.

Currently European airlines are covered through their own governments, but since this cover is due to expire at the end of this month, the Eurotime scheme may yet get up and fly. It depends to a large extent on the support of large European airlines like Lufthansa and British Airways.

However, it’s only a temporary solution. Eurotime will be available for the next three years, until it’s replaced by a long-term plan.