Aircraft Finance Vademecum
Since the entry into force of the Pfandbrief Act Amendment in March 2009 Pfandbrief Banks engaged in aircraft finance can use the new Aircraft Pfandbrief as an additional refinancing istrument for their aircraft loans. It enables the refinancing of aircraft loans on favourable conditions. Therefore, Pfandbrief Banks can often offer more attractive conditions to their customers.
In order to refinance aircraft loans by issuing an Aircraft Pfandbrief, certain conditions have to be met: There must be an aircraft mortgage, the law also prescribes a lending limit, some loan modalities and sufficient insurance coverage.
3. legal action is not made significantly more difficult for creditors belonging to another state compared to nationals of that state.