The Millennium Bug

The cost to fix the millennium bug world-wide is estimated at US$ 500 billion, and International Air Transport Association (IATA) has estimated that airlines alone will need US$ 1.6 billion. The inclusion of indemnities and warranties in merger contracts, for example in the instance of airline mergers which are occurring, is advisable, together with the establishment beforehand of legal immunity from shareholder claims as a result of the millennium bug. The aviation industry is posed a unique challenge by the millennium bug. The cost of this challenge to airlines, as assessed by the IATA, will be US$ 1.6 billion. On the subject of air traffic control, in the United States alone, air traffic computers rely on programs containing have more than 23 million lines of code in 50 different computer languages distributed among 250 systems. IATA reports that the Federal Aviation Administration is taking a two-pronged approach in tackling the millennium bug vis-a-vis air traffic control.