The flux-corrected-transport (FCT) paradigm is generalized to implicit finite element discretizations for hyperbolic systems and applied to the Euler equations of gas dynamics. First, the scalar version of the algorithm is presented. Building on the mathematical theory of positivity-preserving schemes, a nonoscillatory low-order method is constructed by elimination of negative off-diagonal matrix entries of the discrete transport operator. The difference between the linear discretizations of high and low order is decomposed into sums of internodal antidiffusive fluxes and embedded into an outer iteration loop of defect correction type. The monotone low-order operator enjoys the M-matrix property and constitutes an excellent preconditioner. Zalesak`s multidimensional limiter is generalized to implicit time-stepping and used as a starting point to derive a superior iterative flux limiter independent of the time step. It is proved that the fully implicit FEM-FCT scheme is unconditionally positivity-preserving, and a computable upper bound is derived for the admissible time step under a (semi-)explicit time discretization. The methodology is extended to problems with nonlinear source/sink terms by utilizing a positivity-preserving linearization technique. Last but not least, the origins of spurious ripples produced by standard FCT methods in some cases are elucidated by means of a simple `lever-model` and effective remedies are proposed. In the second part of the talk, the scalar FEM-FCT methodology is carried over to nonlinear hyperbolic systems. An efficient edge-based algorithm for the global matrix assembly is introduced. The `discrete upwinding` is performed as in the scalar case by rendering the local Jacobians situated `off-diagonal´ positive definite. This leads to a multidimensional extension of Roe`s approximate Riemann solver. For efficiency reasons, the low-order method can be constructed by adding scalar dissipation proportional to the spectral radius of the Roe matrix. The coupled system can be decomposed into scalar subproblems for individual variables by resorting to a block-diagonal low-order preconditioner for the outer defect correction loop. However, a coupled solution strategy based on low-order preconditioning leads to a better convergence behavior. Application of synchronized correction factors for an arbitrary set of variables to the conservative fluxes is shown to preserve positivity. The performance of the algorithm is illustrated by numerical examples for the compressible Euler equations in a wide range of Mach numbers. Both stationary and time-dependent results are presented for standard two-dimensional benchmark problems.