Aircraft Repossession in Vietnam

December 21, 2015

Aircraft Repossession in Vietnam

Tilleke & Gibbins

Vietnam’s aviation industry is growing rapidly. According to an IATA forecast, between 2013 and 2017 Vietnam is expected to be the seventh-fastest-growing market for international passengers, and the fastest-growing for international freight. To meet demand, Vietnamese carriers are buying and leasing new aircraft. New private airlines have also entered the market.

Increased aircraft transactions and new airlines can translate to greater instances of default. In such cases, a lessor may need to repossess its aircraft from within Vietnam. While Vietnamese law allows for repossession, challenges exist.

Please click on the PDF below to access a Q&A providing a basic overview of aircraft repossession in Vietnam.

Download Full Article

Related Professionals

Chuyen Hong Huu Le

Vietnam

+84 28 628 45687

Email

John Frangos

Partner and Director, Dispute Resolution

Thailand

+66 2056 5790

Email

RELATED INSIGHTS

May 5, 2020

Cambodia Broadens Tax Exemptions for Aviation and Tourism Sectors

On April 9, 2020, the Cambodian General Department of Taxation (GDT) issued an official notification to clarify and widen the scope of the tax relief measures granted by the Ministry of Economy and Finance earlier this year in response to the COVID-19 pandemic.

April 27, 2020

COVID-19 and Aircraft Leases: Lessor Options under Thai law

The COVID-19 outbreak has had a devastating effect on Thailand’s aviation industry. Both international and domestic flights have been dramatically curtailed or stopped altogether. When operations do resume, it is uncertain how many passengers will actually fly because of virus fears and economic impacts. Meanwhile, while airlines’ revenue drops, their expenses continue. A lack of cash flow has resulted in airlines resorting to laying off employees or having their employees take leave without pay.

April 16, 2020

Laos Extends COVID-19 Lockdown Measures to May 3

On April 15, 2020, the Lao Prime Minister’s Office issued Notification No. 481/PMO, which provides further recommendations on the implementation of PM Order No. 06/PM issued on March 29, 2020, including the extension of the earlier lockdown measures imposed in Laos to May 3, 2020, and reiterating that measures to tackle the COVID-19 pandemic should remain in effect until further notice.

April 8, 2020

Laos Issues COVID-19 Regulations for Freight, Insurance, Mineral Processing, Hydropower, and Healthcare Industries

Cross-Border Transportation of GoodsThe National Taskforce Committee for COVID-19 Prevention and Control has issued Guideline No. 020, Regarding Prime Minister’s Order No.02/PM, dated April 2, 2020, which includes directives aimed at the freight sector. The transportation of goods is one of the few operations that is still permitted to cross the Lao border, although this is subject to the following regulations:

You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

Industries

Practices

December 21, 2015