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August 28, 2024

Chambers Aviation Finance & Leasing 2024 – Vietnam

Aviation legal specialists from Tilleke & Gibbins’ offices in Vietnam have provided the Vietnam chapter for the Aviation Finance & Leasing 2024 guide from Chambers and Partners. The guide covers important legal issues faced by aircraft lessors, lessees, and financiers in 37 jurisdictions worldwide. In addition to the Vietnam chapter, Tilleke & Gibbins contributed the Thailand chapter to Aviation Finance & Leasing 2024.

The Vietnam chapter provides in-depth details on the legal regime affecting all aspects of aircraft sale and purchase, aircraft and engine leasing, and aircraft debt finance, including sale and lease agreement terms; taxation; lease registration and enforcement; lease assignment/novation; insurance and reinsurance; debt structuring; securities; liens; and many other matters that affect the day-to-day operations of leading players in the aviation industry in Vietnam.

Chambers and Partners’ Global Practice Guides provide in-house counsel with expert legal commentary focusing on practical legal issues affecting business, enabling readers to compare legislation and relevant procedures across a range of key jurisdictions.

The Vietnam chapter of Aviation Finance & Leasing 2024 is available as a PDF through the button below, courtesy of Chambers and Partners. The full guide is accessible for free on the Chambers and Partners website.

RELATED INSIGHTS​ 

February 15, 2019
On January 23, 2019, the government of Vietnam issued Decree No. 07/2019/ND-CP (Decree 07) to amend and supplement Decree No. 68/2015/ND-CP on registration of nationality and rights towards aircraft (Decree 68). Decree 07 will take effect on March 11, 2019.Some key changes include the following:
January 16, 2019
On November 30, 2018, the Vietnamese government issued Decree No. 162/2018/ND-CP on administrative sanctions in civil aviation (Decree 162). Decree 162 amends and supplements Decree No. 147/2013/ND-CP (the Old Decree), and took effect on January 15, 2019.Key changes in Decree 162 include the following:1. New Actions that Are Considered ViolationsWhile most of the Old Decree’s provisions are preserved, Decree 162 adds new conduct that is subject to fines. The added violations are summarized in the table below.
August 20, 2018
Tremendous GrowthSince the investment boom in Vietnam that started around 1993, the country’s airline industry has seen tremendous growth. For example, in 1993, only 20 international airlines were flying to Vietnam, and there were only about 20 international destinations one could fly to from the country. Fast forward to 2018, there are about 60 airlines flying to Vietnam, and you can fly to about 100 destinations.
July 13, 2018
The Vietnamese government has recently published draft amendments to Decree No. 92/2016/ND-CP which governs the conditions for investment and business in the aviation industry (Decree 92). The new amendments will open up expanded opportunities for foreign investors in the burgeoning aviation industry, but will make it more difficult for new domestic entrants, due to increased capitalization requirements. It is expected that the government will continue reviewing and refining the draft for issuance in the coming time.