The Federal Law is aimed at creating the necessary conditions for Russia’s accession to the international system of guaranteeing the priority of aircraft owners’ proprietary rights in the implementation of transactions with such aircraft. The provisions of the Convention apply to both international and domestic transactions involving Russian nationals.
Russia’s accession to the Convention and application of its regulations will allow Russian aircraft manufacturers, air carriers and leasing companies to take advantage of the economic benefits embodied in the principles and mechanisms of the Convention guaranteeing the rights of creditors, and will promote new opportunities for the export of Russian aircraft.