Arias, Fábrega & Fábrega

Ms. Pilar Castillo focuses her work on the areas of shipping and aviation.

Pilar Castillo joined ARIFA in 2010 and was elected Partner in 2017. She is Co-Head of the firm's Transportation: Maritime and Aviation practice, with a particular focus on aviation finance, aircraft leasing and transportation-related cross-border transactions.

Pilar advises airlines, aircraft lessors, financial institutions and investors on complex aircraft acquisition, financing, refinancing and leasing transactions, as well as the registration, perfection and enforcement of aviation security interests under Panamanian law. She has played a leading role in many of the most significant aircraft financing transactions involving Panama, including numerous matters supporting COPA Airlines' fleet expansion, representing leading international lessors and financiers in high-value, multi-jurisdictional transactions.

Her transportation practice also encompasses shipping and maritime finance, where she advises banks, shipowners and investors on vessel acquisitions and disposals, ship finance, offshore asset transactions and secured lending structures. Her deep understanding of Panama's maritime, commercial and corporate legal framework enables her to structure transactions efficiently and resolve complex legal and logistical issues throughout the negotiation and closing process.

Pilar regularly collaborates with the firm's Banking & Finance, Capital Markets and M&A teams, providing specialized transportation law expertise in complex financing, infrastructure and corporate transactions involving aviation, maritime and port assets. She also advises on port operations, maritime ancillary services, commodity finance and secured transactions involving assets located in Panama's free trade zones.

Previously, Ms. Castillo worked as legal counsel to the Panama Maritime Authority’s Directorate General of Merchant Marine, assisting in the implementation of efforts in order to reposition Panama in the Paris MOU white list of ship registries.

Spanish and English

Director of the Panamanian Maritime Chamber (2026-2027)

Logistics and Transportation Committee Chair, AmCham Panama (2026)

President (2021-2022), Director (2015-2021) of the Panama Maritime Law Association (APADEMAR)

Co-Chair of the Panama Chapter, International Section NYSBA (New York State Bar Association) (present)

Member of the International Aviation Women's Association (IAWA) (2016-present)

Member of the Women's International Shipping & Trading Association (WISTA)

Master of Laws, Fordham University (2009) (concentration on international business and trade law)

Bachelor of Laws (Licenciatura en Derecho y Ciencias Políticas), summa cum laude, Santa Maria la Antigua University (2008)