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Actually I think it is. LW stuff isn't my thing so I'm sure somebody might correct me but the jacket is part of a suit, which is of a medium weight (in USAAF nomenclature "intermediate") and was usually used by bomber crews and I think it either came into service or became popular prior to or around the Battle of Britain. It's nickname became "Kanaljacke" presumably because it was used so much by crews flying over the Channel operationally?
For those of you in milder climates, and especially since spring/summer are upon us, I own an ATF Summer M41 and it's a fantastic jacket. No itchy lining to worry about and looks great for a casual day out, especially when layered with flannel. I've heard great things about all of their other products as well.