What Happens When It Goes Wrong? Default Situations In Aircraft Finance

It is impossible to deal comprehensively with that simple question; when dealing with default situations, aircraft repossession, lessee insolvency or any combination of the above (plus all the other unexpected things which may happen) flexibility and adaptability are crucial.

Events surrounding a default will create problems that even the most prudent financier had never imagined. You may have to deal with parties claiming a lien that you never even knew existed. You may find yourself negotiating with Eurocontrol in relation to its charges which it cannot readily quantify. You may find your aircraft involved in a fleet detention. No matter how good your documentation is, you may have to deal with some other party, possibly in a different jurisdiction, whose interpretation of it is different to yours.