[KSCI] Korea Science Citation Index Service

The Law of Aircraft Leasing in the People's Republic of China : Achievements and Challenges

Yu, Dan (International Shipping Law School, East China University of Political Science and Law)

Publication Information

The Korean Journal of Air & Space Law and Policy / v.30, no.2, 2015 , pp. 155-176 More about this Journal

Abstract

Leasing is one of the main methods for Chinese airlines to introduce aircraft from overseas manufactures, and this method has been used for more than 30 years by Chinese airlines. Aircraft leasing in essence is a kind of financial transaction, through which lessors provide finance to lessees by means of the delivery of possession of the leased aircraft. At the time when China started to introduce aircraft through leasing some 30 years ago, the Chinese domestic laws were very insufficient to regulate these activities. Therefore, a construction process for the law of aircraft leasing was triggered then, and some fruit has been gained. By far, there are rules to adjust the aircraft activities in the aspects of contract, real right, default and bankruptcy remedies. However, as the improvement of any system must undergo a process of exploration, the law of aircraft leasing in China is still faced up with many challenges. Especially with the emergence and prosperous of domestic leasing industry, new transaction structures and models of aircraft leasing have emerged, which leaves new challenges to current legal system. On the basis of introducing the history and main contents of Chinese legal regime of aircraft leasing, this paper offers an analysis of achievements and challenges on present Chinese laws in the aspects of contract, real right and remedies.

Keywords

aircraft leasing; financial; legal regime; bonded area leasing;

Citations & Related Records

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