Title	Author(s)	Firm	Category	Date
Lowering risk in pre-delivery transactions In recent years, "Claw-Back" risk has been an important issue for participants in aircraft pre-delivery payment (PDP) transactions. PDPs are progress payments that a buyer makes to a manufacturer while new aircraft are being built. They represent a substantial cash expense for the buyer, on average...	C.A Gee	Vedder Price	Finance	1110
Aircraft Financing - What You Should Know Legal and administrative service providers in the Cayman Islands can offer aircraft owners and financiers much more in the way of financing, leasing, securitisation and ownership structures not limited to Cayman registered aircraft. A common component to these structures is the use of a...	C. Barton	Appleby	Finance	1108
The registration and enforcement of mortgages and other security interests over Malta-registered aircraft Following its success in the maritime sector, Malta has undertaken an ambition to replicate that success in the area of aircraft registration. Complex aircraft finance transactions often share many characteristics with ship finance in the sense that both involve assets of great value which may...	Aviation Team	Zammit & Associates	Countries - Malta	1108
Bermuda Issuers: Raising Capital With the successful listing of Air Lease Corp on the NYSE earlier this year and several other aircraft leasing companies reportedly in the process of making preliminary filings, industry experts and commentators report that the equity markets are open for...	J. Piney D. Cooke	Conyers Dill Pearman	Finance	1108
Taking English or New York law mortgages over foreign-registered aircraft: a comparison Banks and other financial institutions participating in aircraft finance have historically required the benefit of an aircraft mortgage as a condition for their participating in a financing transaction. However, the creation of an aircraft mortgage is not a straightforward process. Different laws have different...	P. Farrell N. Poland K. Gray	Norton Rose	Finance	1107
The repossession of aircraft in Canada: Skyservice Airlines - The latest chapter in the conflict of priority between lessors and aeronautical authorities In Skyservice Airlines, a decision rendered last April, the Superior Court of the Province of Ontario highlighted the effects of Canadian insolvency laws on the exercise by lessors of their right to terminate lease agreement and the impact these laws may have on the...	P. Farrell N. Poland	Norton Rose	Countries - Canada	1107
When is loss indemnifiable With the ever-increasing practice of leasing aircraft for operation across Africa, owners and financiers would be well-advised to familiarise themselves with their insurance policies, and to look beyond their policies for additional security in the form of registering...	H. Wilmot	Norton Rose	Contracts - Agreements	1107
Aircraft Leasing into Australia:Tax Considerations This article provides an overview of the range of taxation issues which will be relevant for a non resident lessor of aircraft, leasing to an Australian airline directly from offshore. Where the lease is an operating lease rather than a finance lease, the conclusion is that...	B.A. Howe	HWL Ebsworth	Countries - Australia	1106
In Search of a Level Playing Field: the 2011 Aircraft Sector Understanding On February 25, 2011, the rules governing the financing that export credit agencies can provide for the purchase of aircraft changed. The new rules apply to all forms of official state support for export credits and set out the most...	J.M Cavanaugh	Katten Muchin Rosenman	Finance	1104
Back-to-Back Aircraft Transactions: Creative Solution or Horrible Mess? Accomplishing a successful "back-to-back" aircraft transaction is like nailing an instrument approach at Tegucigalpa Airport. It requires extraordinary attention to detail, a healthy dose of fear, and alternate plans-because...	G. Cirillo G. Horowitz	Wiley Rein	Contracts - Agreements	1104
The Customs Union: importation of civil passenger aircraft into Russia (in Russian) The establishment of the Customs Union between Russia, Kazakhstan and Belarus in 2010 led to significant changes in the regulations of customs procedures used in relation to importing of leased foreign aircraft. Although initially not very clear, the new rules turned out to be ...	A. Anichkin	Clifford Chance	Countries - Russia	1104
Aircraft Leasing in Ireland for Chinese Lessors - The Irish Tax Regime Ireland is one of the leading locations in the world for all forms of aircraft finance and leasing activities. This is due to the very favourable tax environment including, in particular, a low 12.5% rate of corporation tax on trading profits, coupled with beneficial tax depreciation and...	D. Maughan A. Quinn M. Western	Maples	Countries - Ireland	1103
Pitfalls of portfolio transfers While there may never have been a better time to invest in transport-related financial assets, there are traps for the unwary and tricks of the trade to learn. Dealing in asset finance portfolios is not just...	T. Elliott	Allen & Overy	Finance	1103
Recent Developments in the PRC Aircraft Leasing Market - Calculation of Customs Duties and Relaxation of Foreign Security Rules Two recent legal developments in China are important to the conduct of aircraft leasing business by both domestic and foreign industry players. This client briefing looks at the calculation of...	P. Greenwell	Clifford Chance	Countries - China	1102
The Mexican Export Certificate of Airworthiness: A Certificate that is not valid for the Operation of the Aircraft In this publication, the author will analyze the subjects involved with an Export Certificate of Airworthiness issued by the Mexican Aviation Authority under the applicable rules declared on the Mandatory Circular CO AV-21.2/07-R1...	M. Arellano	Abogados Sierra Y Vazquez	Regulation	1102
Ireland's Enhanced Tax Offering to the Aviation Sector On 6 February 2011, the Finance Act 2011 was signed into law. Measures introduced extend Ireland's securitisation and structured finance tax regime to aircraft, endorsing Ireland's continued commitment to the ...	C. Deane J. Fay	McCann Fitzgerald	Finance	1102
Good Faith in Execution (aka Performance) of Agreements So what's in a word? One is curiously reminded that one should use words carefully by an excerpt from Shakespeare's Hamlet, Act V Scene I: First Clown: What is he that builds stronger than the mason, the shipwright, or the carpenter? Second Clown: The gallows-maker, for that frame outlives a...	J. Farley	mccarthy tetrault	Contracts - Agreements	1101
Doing Business in Romania - Leasing Operations Leasing is a financing means, which begun enjoying a comprehensive regulation in Romania in 1997. Since then, Romanian leasing market was subject to a strong development. The number of leasing companies has grown, the level of leasing operations has also grown, as a result of the...	Musat Asociatii	Musat Asociatii	Countries - Romania	1101
The Cape Town Convention and the Cayman Islands Since the introduction of the Cape Town Convention, the number of Cayman Islands SPV's registering as a transacting user entity to participate on the international registry has continued to grow. Mark Western, Joannah Bodden Small and Phil Hinds explore the influence of Cape Town in the Cayman Islands as well as...	J.B Small	Maples	Regulation	1011
Key Provisions in Tax Indemnity Agreements Historically, a large portion of aircraft leasing for new equipment was accomplished through leveraged lease transactions, which benefited lessee airlines by providing cheaper lease rents and equity owners by...	T. Lynes R. Mandel	Katten Muchin Rosenman	Contracts - Agreements	1011
Back-Leveraged Operating Leases: Recent Developments A healthy mix of new-entrant and existing lessors sit on a nest of uncommitted capital, reassuring us that aircraft financing is both heavily supported and likely to increase. Ronald Scheinberg, shareholder at Vedder Price, explains recent developments in...	R. Scheinberg	Vedder Price	Contracts - Agreements	1010
The "Hell or Highwater Clause": A Closer Look at its Legal Enforceability by Courts in the UK and New York One of the key features of an aircraft lease agreement is the net lease provision, or "hell or highwater" clause, as it is often called. The net lease provision provides that the lessee's obligation to pay rent is...	E.H Evans D. Reddy	Jones Day	Contracts - Agreements	1010
Aircraft Re-Registration Requirement Takes Effect The Federal Aviation Administration estimates that the records of approximately 120,000 of the almost 360,000 aircraft recorded on the U.S. Civil Aircraft Register today contain inaccurate information. Based on this, the agency published a Final Rule in the Federal Register on...	T. Gillespie J. Schwartz	Jones Day	Regulation	1010
Clear title: Looking beyond the registry (.pdf) Clear title: the single most important element in an aircraft transaction. It is the one objective that cannot be compromised and the one condition to closing that, if unsatisfied, will end a transaction. Generally, the only...	G. Cirillo G. Horowitz	Wiley Rein	Regulation	1010
Second Circuit Rules in Favor of Tax Indemnity Agreement Claims The article discusses a decision by the U.S. Court of Appeals for the Second Circuit, persuaded by arguments advanced by a Kaye Scholer team, that reversed two lower courts to uphold Tax Indemnity Agreement bankruptcy claims raised by Owner Participants in leveraged leases of aircraft to...	S. Herman R. Smolev	Kaye Scholer	Contracts - Agreements	1009
Cape Town Convention The Cape Town Convention is an international agreement that strives to provide a much clearer structure for international aviation finance. The Cape Town Convention augments the Chicago convention which was...	Serap Zuvin Law Offices	Serap Zuvin Law Offices	Regulation	1009
The zero-rating of aircraft Readers of Legalflyer will be aware from previous editions that the European Commission successfully challenged the UK's VAT zero rate for supplies of aircraft and parts on the basis that the UK's existing rules for aircraft (contained in VATA 1994, Sch 8, Group 8) did not correctly implement the provisions of...	M. Hodkin D. Ward	Norton Rose	Regulation	1009
Aircraft leasing in embargo times - the European Union's position The issue of embargoes is having an increasing impact on the aviation business. The impact of embargoes is particularly being felt more and more keenly in aircraft leasing where those embargoes have an impact in the jurisdiction in which either the lessee or the lessor are...	M.J Werner R. Marian	Norton Rose	Contracts - Agreements	1009
Plane Reaction Since the coming into force of the Air Navigation (Isle of Man) Order 2007 ("Order 2007"), on 01 May of that year, the Isle of Man Aircraft Register ("IOMAR") has surpassed all expectations in terms of numbers and quality of aircraft. It was considered a reasonable target to register 12 aircraft in...	A. Webb	Appleby	Countries - UK Isle of Man	1008
United States: FAA Re-Registration Requirement The FAA has issued a final rule requiring re-registration of all U.S.-registered aircraft on a periodic basis. We published a Legal News Alert in May 2010 describing the proposed FAA rule. This alert will summarize the key provisions of the final rule, which will be...	J.R Atkin M.A Christopher T.S Crisp R.P Dudziak M.A Gehl B.F Rikkers	Foley & Lardner	Regulation	1008
Special Report - Aircraft Financing: Risk and Reward How to finance new aircraft is always an important decision for airlines. The shocks and stresses of the modern aviation environment make the decision critical. New aircraft are the lifeblood of a growing industry intent on delivering improvements in...	IATA	Airlines International	Finance	1008
Special Report - Opportunities in Aircraft Leasing About 30% of the world's aircraft are owned by leasing companies and there are several reasons why most observers expect the number to increase. Most obviously, lease rates have come down sharply in recent years, particularly for...	IATA	Airlines International	Contracts - Agreements	1008
Customs Union Gives Green Light to Aircraft Leasing The Committee of the Customs Union (which comprises Russia, Belarus and Kazakhstan) has decided to abolish customs duties and import taxes for certain types of aircraft leased within the Customs Union and extend the temporary import period applicable to..	A. Anichkin V. Bortkevicha D. Tolkachev E. Krasilnikova	Clifford Chance	Countries - Rusia Belarus Kazakhstan	1008
Blue sky thinking - English law aircraft mortgages The English High Court has provided important clarification about the effectiveness of English law mortgages taken over aircraft in the recent case of Blue Sky One Limited and Others v Mahan Air and Another [2010] EWHC 63(Comm) (the Blue Sky case). The High Court did not recognise...	P. Nelson M. Jacovides	Allen & Overy	Contracts - Agreements	1007
TIA victory for owner participants in Second Circuit Delta ruling On June 22 2010 the US Court of Appeals for the Second Circuit handed down a decision which has important implications for the holders of tax indemnification agreement (TIA) claims arising from aircraft leveraged leasing transactions. The court allowed the claims of...	T. Lynes R. Mandel	Katten Muchin Rosenman	Contracts - Agreements	1007
Malta Set to Ratify the Cape Town Convention And Aircraft Protocol The Government of Malta has set the foundations for the ratification of the Cape Town Convention on International Interests in Mobile Equipment and the Aircraft Protocol thereto (the Cape Town Treaty). On the 22 June, 2010 Parliament approved and published the Aircraft Registration Act which amongst other things includes the...	N.V Falzon	Fenech & Fenech Advocates	Regulation	1007
Russia becoming a part of the Customs Union: effect on aircraft leasing Prior to the establishment of the new Customs Union between Belarus, Kazakhstan and Russia, Russian airlines usually declared leased aircraft registered outside Russia under one of two main customs regimes: (i) the temporary import regime or (ii) the international customs transit regime. This briefing summarises how...	A. Anichkin V. Bortkevicha D. Tolkachev E. Krasilnikova	Clifford Chance	Countries - Russia	1007
New Withholding Tax requirements in India: Practical Implications for Aircraft Financings New WHT provisions have been introduced by Section 206AA of the Indian Income-Tax Act 1961 (the "ITA"), which came into effect on 1 April 2010. Under this section, any person receiving any amount from which tax is deductible under the ITA must furnish a Permanent Account Number (a "PAN") to the person responsible for...	M. Chan R. Hunjan	Clifford Chance	Countries - India	1007
The changing face of aviation finance in New Zealand and Australia: The Cape Town Convention and Aircraft Protocol The New Zealand government has announced its intention that New Zealand become a party to the Convention on International Interests in Mobile Equipment (Cape Town Convention) and the associated Protocol to the Convention on...	F. Porter A.L Oliver	Buddle Findlay	Regulation	1007
European Union: Import Duties and VAT on Aircraft Leases (FREE registration required to view article) The lease of an aircraft may involve the physical crossing of an EC border by such aircraft. This is considered as the importation of an aircraft. However, such importation should not necessarily trigger import duties or VAT. In this article, we will look at what the triggering events are. We will also look at ...	B. Springael	Bird & Bird	Contracts - Agreements	1007
Aircraft Mortgages and the English Conflict of Laws Rules Financiers of large commercial aircraft often structure deals so they may repossess the aircraft as its mostgagee, chargee of the shares in the SPV they have funded to own and lease the aircraft and...	M. Harvey A. Hewitt	SNR Denton	Contracts - Agreements	1006
Aircraft fleet liens: no leniency for lessors An English court has held that extensive UK statutory powers of detention for unpaid airport and navigation charges do not contravene the European Convention on Human Rights ("ECHR") and that, although the exercise of such powers may be harsh, this a known risk to...	R. Burley J. Acratopulo W. Glaister N. Swinburne C. Carpenter	Clifford Chance	Regulation	1006
Maintenance Reserves and Bankruptcy under Mexican Law (.pdf) A debate on the nature of the maintenance reserves paid by aircraft lessees to lessors under aircraft lease agreements usually arises when the essence and purpose of such reserves are not clearly understood. Questions like "Are maintenance reserves owned by the aircraft lessee until...	K. Medina	Abogados Sierra Y Vazquez	Contracts - Agreements	1005
Cape Town Update The EU finally acceded to the Cape Town Convention and Aircraft Protocol on 28 April 2009 and the accession came into force on 1 August 2009. The EU"s accession was as a regional economic integration organisation, not a Contracting State, and only in...	Aviation Group	Bird & Bird	Regulation	1005
Judicial clarification of the choice of law rules for aircraft mortgages: how a mortgage may be effective in one jurisdiction but ineffective in another The decision will have an impact on how mortgage security in relation to aircraft financing transactions is structured and is of particular importance to banks seeking to establish, for Basel 2 purposes, that they have legally...	N. Poland K. Gray	Norton Rose	Contracts - Agreements	1004
English Commercial Court: No relief from forfeiture for default under aircraft lease An emphatic High Court decision in Celestial Aviation Trading 71 Ltd v. Paramount Airways Private Ltd has made clear that in the case of a normal aircraft operating lease, English courts do not have jurisdiction to...	H. Cowley P. Watson	Allen & Overy	Contracts - Agreements	1003
Managing the risk of engine lease returns (.pdf) Risk management is a systematic process for the assessment and management of risk. It is fundamentally a four-stage process for understanding what might happen and putting plans in place to address these eventualities. This article discusses how this classic four-stage process can be applied when considering...	Julian Rees	TES Aviation Group	Contracts - Agreements	1003
The funding gap - Myth or reality? (.pdf) From as early as the end of 2008 - and ever since transport finance specialist DVB Bank, among others, brought the subject of a funding gap to the public's attention - there has been a healthy...	B. Grabowski	DVB Bank	Finance	1003
Engine Maintenance Concepts for Financiers Commercial aircraft maintenance cost can be divided into three main areas; airframe, engines, and components. These three areas represent the majority of the aircraft's maintenance exposure over its service life. Of these three costs, engine maintenance expenditures will often...	S. Ackert	Macquarie AirFinance	Contracts - Agreements	1003
Malta - The Aircraft Register of Choice within Europe Spurred by the prosperity and solid reputation of Valletta&s maritime register over the past 20 years and the increasing number of US-based owners looking towards Europe for their aircraft registration requirements, the Maltese Government is currently in the course of...	Aviation Team	Zammit & Associates	Countries - Malta	1003
Aircraft Finance In Turkey The Turkish aviation industry and the civil aviation sector have made remarkable progress over the last decade in terms of fleet size, passenger number and profitability. As a consequence of new players& intention to...	A. Uslas	Akdogan Uslas	Finance	1003
Aircraft Lessors Entitled to Adequate Protection During the §1110 60-Day Period This article is a response to the article published in the April 2009 ABI Journal asking whether aircraft lessors are entitled to adequate protection in the 60-day period provided under §1110(a)(2) of the Bankruptcy Code, during which time such lessors are subject to...	W.F Foster Jr R.M Rosenberg	Milbank	Regulation	1002
Bermuda's Aircraft Register: A World Leader Bermuda has increasingly played an important role in the creation of aircraft asset holding entities using exempted company special purpose vehicles (SPVs) coupled with a purpose trust shareholder (SPV Structure) in export credit financings. The reasons for Bermuda's popularity in the aircraft finance arena include...	J.E McLean	Conyers Dill Pearman	Countries - Bermuda	1001
Flying the Flag Following recommendations made by a legal group commissioned by the Ministry for Infrastructure, Transport and Communications (MITC) Government is proposing to ratify and implement the Cape Town Convention on International Interests in Mobile Equipment and the Aircraft Protocol thereto...	N.V Falzon	Fenech & Fenech Advocates	Regulation	1001
Shari'ah Compliant Transactions Slowly Take Hold in US As the world's economy starts to recover from one of the worst recessions in the last 50 years, investors worldwide have begun to invest risk capital in...	D.G. Mayer	Patton Boggs	Finance	0912
Aviation Financing and Leasing This article compares aircraft financing and leasing in Bermuda, Cayman Islands, British Virgin Islands and Mauritius. It explores the types of structures used in these types of finance and/or lease transactions (such as the special purpose trusts unique to Bermuda), the benefits of...	N. Richard J.E MacLean R.J.D Briant K.C Butler	Conyers Dill Pearman	Finance	0909
Aircraft Pre-Delivery Payment Financing Transactions In aircraft financing, pre-delivery payment financing - or PDP financing - refers to the financing of progress payments that a purchaser makes to a manufacturer while new aircraft are being built. This article discusses...	C.A Gee	Vedder Price	Finance	0909
Outlook for the global commercial and business aircraft industry While the global commercial aircraft industry has not been immune to the current economic downturn (some airlines have been forced to defer orders), the overall, long-term prospects for the industry are strong. This is especially true for the industry's most...	T. Captain	Deloitte Aerospace & Defence	Orders & deliveries	0908
Debtor Insolvencies and Defaults Test Cape Town Convention With the global economy in extremis, aircraft lenders and lessors (creditors) outside of the United States may need uniform remedies to respond to defaults and insolvencies of their debtors. Creditors may want to...	D.G. Mayer	Patton Boggs	Regulation	0906
What You Don't Know Can Hurt You: Liens and Interests in Commercial and Corporate Aircraft Equipment Not Found on the FAA Aircraft Registry In aviation leasing and financing transactions, the importance of knowing about all of the liens and interests that exist on a piece of civil aircraft equipment...	N. Leavitt T. Zimmer	Holland & Knight	Finance	0906
Air Finance in Bermuda Bermuda is an offshore leader in a broad range of aviation matters, including aviation financing and aircraft registrations. This article looks at these two areas in detail as well as...	S.J. Rossiter	Conyers Dill & Pearman	Finance	0904
Repossession of aircraft in Russia: practical and legal issues This briefing gives an overview of the main steps involved if seeking to repossess an aircraft (the "Aircraft") leased to a Russian operator/airline (the "Lessee") and operated from ...	T. Aitkulov et al	Clifford Chance	Countries - Russia	0904
Security in Aircraft Interests and the Utility of the Cape Town Convention (.pdf) When a purchaser of real estate in the United States grants a mortgage to a bank to secure the loan with which a purchase is made, the bank gives notice of its security interest in a property via a filing with the applicable state agency. Before accepting that mortgage and granting the loan, the bank can conduct a...	B.E Foont	Foont & Altman	Finance	0903
A Spreadsheet Model for Domestic Leveraged Leases ***Abstract only - Paid subscription required for complete article*** This article analyzes domestic leveraged leases (DLLs), which have been growing in importance as a method of financing numerous types of assets. DLLs are temporarily placed on hold in response to the 2008 collapse of financial markets, but will experience...	P. Deo	University of Houston	Finance	0903
Aviation Finance: An Overview ***Abstract only - Paid subscription required for complete article*** The aviation finance sector has spent the past year at the intersection of two dramatic industry changes exposed on one hand to the credit crunch and the world of structured finance, and on the other to the cycles of the airline industry and the year&s drastic rise and fall in oil prices. Over the course of 2009, with an estimated...	Elizabeth D. Mann	Goldman Sachs	Finance	0903
Enforcement of security over an aircraft If there is a default under a loan secured on an aircraft, the bank will wish to know how to enforce its security. The difficulty with...	A. Evans	Field Fisher Waterhouse	Contracts - Agreements	0903
The sub-lessor airline: the market responds The last few months have seen the emergence of an increasingly popular trend in the aircraft leasing industry: the sub-lessor airline (SLA). In the current climate...	P. Perrotta	Clyde & Co	Contracts - Agreements	0901
Commerce Department Provides Guidance on Exports of Civil Aviation Planes and Equipment On December 3, 2008, the U.S. Department of Commerce, Bureau of Industry and Security (BIS) published final rule changes to the Export Administration Regulations (EAR) to provide...	J.S. Maberry T.R. McBride S. Reisinger	Fulbright & Jaworski	Regulation	0901
Cross-Border Lease Financing with Japanese Leveraged Leases ***Abstract only - Paid subscription required for complete article*** This article analyzes Japanese leveraged leases (JLLs), which have been growing in importance as a method of financing numerous types of assets. JLLs were temporarily placed on hold in response to the 2005 tax reforms, but are about to...	P. Deo	University of Houston	Finance	0812
VAT and sale and leaseback of aircraft in Belgium In the wake of the sub prime crisis, banks are not lending as readily as previously experienced. This has resulted in airlines entering into sale and leaseback transactions. In such a transaction...	B. Springael	Bird & Bird	Countries - Belgium	0812
Indonesian Law on Aviation - Law Number 15 of 1992 Aviation matters in Indonesia are regulated by Law Number 15 of 1992. Matters that are dealt with in this law include commercial aircraft...	A.S. Kartohadiprodjo	ABNR	Countries - Indonesia	0810
Aircraft finance - The Cayman Islands perspective (.pdf) For a small trio of sun-drenched islands in the Western Caribbean, the Cayman Islands have had a quite remarkable impact on international finance, as one of the world's most successful offshore centres. Clear leadership has been demonstrated across a range of...	A. Todd	Walkers	Finance	0809
Model Equipment Leasing Law Draft In Final Stages (.pdf) Drafting of a Model Law on Commercial Leasing began in 2004 under the auspices of UNIDROIT. This effort has been supported by....	Commercial aircraft finance team	Vedder Price	Contracts - Agreements	0809
High Risk Finance - Or how to quickly loose a fortune in the air finance industry (.pdf) Contrary to some of my colleagues in leasing and banking - list available on demand - so far, after 25 years in the industry, I have had little experience of deals gone sour. Nevertheless, I have witnessed many and more may be on the way as the theory of the 'Super Cycle' capsizes in style. In short...	B. Grabowski	DVB Bank	Finance	0806
Islamic Finance Structures With the continuing development of many Muslim states and the growth in wealth throughout those states, an increasing number of Muslims have...	Islamic finance team	Norton Rose	Finance	0806
French Securitization Market: the perfect time for an upgrade of the legal framework (.pdf) Two years ago, we prepared for the Global ABS Conference held in Barcelona a survey of the French securitization market which...	P. Messina M. Bartlam P. Agboyibor	Orrick	Finance	0806
US Aircraft: FAA Changes to Registration Rules The Federal Aviation Administration of the United States has enacted amendments and announced proposals which will...	J. Howitt M. Chan	Clifford Chance	Regulation	0804
A guide to aircraft finance Aircraft financing can be complex for the following reasons. The aviation industry is highly regulated and for the proposed operation of most...	A. Evans	Field Fisher Waterhouse	Finance	0801