Title	Author(s)	Firm	Category	Date
United States: FAA Re-Registration Requirement (FREE registration required to view article) 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	1009
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	Agreements	1007
UK: GKL Ltd and CGTSN Ltd Vs The CAA and Others (FREE registration required to view article) GKL owned and leased an aircraft (the "Aircraft") to the Canadian airline, Zoom Airlines Inc ("Zoom"). On 27 August 2008, Zoom collapsed and filed for Canadian administration owing substantial amounts for ...	Zohar Zik	Barlow Lyde & Gilbert	Regulation	1007
UK: VAT and Customs Duties - Recent News in Relation to Aircraft (FREE registration required to view article) Customs duty is a tax charged on the importation of goods produced outside of the EU. There is relief from such customs duties on the importation of civil aircraft into the UK where the aircraft is being imported for...	Z. Hammond	Barlow Lyde & Gilbert	Regulation	1007
China and the Cape Town convention Update on the registration of international interests involving Chinese registered aircraft. Negotiated under the guidance of the Rome-based International Institute for Unification of Private Law (UNIDROIT), the Convention on...	M. Bisley Cissy Fan Yvonne Ho	Allen & Overy	Regulation	1006
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
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...	K. Medina	Abogados Sierra Y Vazquez	Finance	1005
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
Aviation Law & Investment Prospects in the Mexican Aerospace Sector (.pdf) An Aviation Law is in force since May 13, 1995, and it regulates air transportation services and simplifies administrative procedures. The Ministry of Communications is the authority in charge of issuing concessions to Mexican companies to provide regular domestic air transportation. Concessions are granted for a period of...	Aviation team	Goodrich Riquelme Asociados	Finance	1003
Forfeiture of aircraft lease agreements and return of aircraft In Celestial Aviation Trading 71 Ltd v Paramount Airways Private Limited the court ruled in favour of the claimant on two occasions: first, by way of summary judgment, in respect of the claim for monetary compensation and second, following a substantive hearing, in respect of the application for the delivery up of the...	Zohar Zik L. Baker	Barlow Lyde & Gilbert	Contracts - Agreements	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...	Zammit & Associates	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
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
United Kingdom: Engine And Component Cannibalisation: A Step Too Far? Zohar Zik examines the court decision in U.S. Bank National Association v Southwest Airlines Company1, which addresses potential pitfalls associated with the practice of substituting engines and parts of leased aircraft. The implications of this decision give rise to...	Zohar Zik	Barlow Lyde & Gilbert	Contracts - Agreements	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
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