Document Type : Research Paper
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Abstract
Aircraft finance has been followed with various legal challenges in international venue as a result of the aircraft natural characteristics; so that financiers have always faced with risk of non-recognition of thier rights or related privilages or denial of or inefficient exercise of of their remedies in relation to the aircraft by other countries. The first international effort for solving the said problems was realized in Geneva Convention on International Recognition of Rights in Aircraft(1948) but due to its deficiencies did not obtain the financiers’ acceptance. Consequently another deal was necessarry to minimize the above-said challenges further to removal of the Geneva deficiencies. This purpose was realized in Cape Town Convention on International Interests in Mobile Equipments after half of a century in 2001. Experts believe that Cape town Convention has produced more clarity and certainty in aircraft finance and consequently has made increase of its availability and reduction of its expenses. This article has argued that the said results come from six legal principles which are inferrable out of the provision of the Cape town convention and form its fundamentals.
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