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Aviation

Key Contacts

Cambodia

Indonesia

Laos

Myanmar

Thailand

Vietnam

Jay Cohen

     +855 23 964 210

     [email protected]

John Frangos

     +66 2056 5790

     [email protected]

John Frangos

     +66 2056 5790

     [email protected]

Niti Muangkote

     +66 2056 5542

     [email protected]

Santhapat Periera

     +66 2056 5995

     [email protected]

John Frangos

     +66 2056 5790

     [email protected]

Santhapat Periera

     +66 2056 5995

     [email protected]

John Frangos

     +66 2056 5790

     [email protected]

Chuyen Hong Huu Le

     +84 28 628 45687

     [email protected]

OVERVIEW

Tilleke & Gibbins has handled some of the most significant aviation sector legal matters in Southeast Asian history.

Tilleke & Gibbins’ cross-disciplinary aviation team serves airlines, aircraft lessors and lessees, insurers, banks, air cargo firms, and other aviation-related companies in Southeast Asia, one of the world’s fastest-growing aviation markets. With our firm’s top-ranked dispute resolution and corporate departments, as well as our multijurisdictional presence, we are well placed to advise clients in aviation matters.

Our practice covers:

  • Aircraft leasing disputes and repossessions
  • Civil aviation regulations
  • Air carrier liability
  • Air carrier insurance claims and disputes
  • Commercial and labor disputes involving the aviation industry
  • Aircraft acquisitions and sales
  • Aircraft leasing and financing

Our understanding of the business and regulatory environments in Southeast Asia, as well as our strong relationships, enables us to provide unparalleled breadth of support to clients in the aviation sector. In addition to representing our clients in corporate, commercial, and financing transactions, we regularly represent our clients before civil aviation departments, courts, and arbitration tribunals.

Case Studies
Thailand | Aviation

Successful Repossession of Two Cessna Caravan 208 B Aircraft

Acted for a Pacific Air Holdings LLC, a US-based aircraft leasing company, in the successful repossession of two aircraft valued at approx. USD 2.6 million after a Thai airline company breached the lease agreements for the aircraft.

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Thailand | Aviation

Court Affirms Thai Civil Aviation Authority’s Ability to Repossess Leased Aircraft in Default

Advised Air Lease Corporation, a publicly listed American aircraft leasing company, on the repossession of two Boeing 737 aircraft with a combined value of over USD 80 million from a Thai airline that defaulted on its payments, in a case that confirmed, for the first time, the CAAT's ability to repossess aircraft in default without a court order.

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Thailand | Aviation

USD 29 Million Aircraft Acquisition for Multinational Company

Acted as Thai counsel for a world-leading multinational vehicle manufacturer in connection with its USD 29 million purchase of a used Gulfstream Aerospace GV-SP (Gulfstream G550) aircraft from a leading Thai travel retail group.

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Experience

  • Representing a number of international creditors, including aircraft lessors, global banks, and credit card companies, in the landmark restructuring of national flag carrier, Thai Airways.
  • Assisted a global aircraft leasing company on the successful repossession of an Airbus A319 that was on lease to a Thai airline that defaulted on its payments.
  • Assisted in structuring an airline alliance, organized as a joint venture, between two major international carriers. The joint venture is now in operation, and has helped to position both carriers for improved profitability.
  • Represented an aviation operating and leasing company based in Ireland, with over 240 aircraft, in claiming several million USD in damages as a result of breached aircraft lease agreements on three leased Boeing 737-800 aircraft.
  • Advised a client on the acquisition of a Thai-registered commercial aviation services company, owned by a UK listed company, as part of a process to bid for, construct, and operate a fuel tank farm at Bangkok’s Suvarnabhumi Airport.
  • Advised a coalition of European banks regarding Vietnamese law on secured aircraft finance and provided annual updates on changes to same.
  • Successfully represented a Korean airline in a contract dispute with its Thai ticketing agent.
  • Prepared aircraft service agreements and air transport service agreements for a local aviation company.
  • Assisted a global aircraft leasing company on the repossession of an Airbus A321 from a Thai airline that has defaulted on its lease payments.
  • Advised a financier on leasing multiple aircraft to a new Thailand-based airline.
  • Represented a multinational air carrier in litigation involving cargo damages and prevailed against a global insurance company.
  • Successfully defended one of the world’s leading liner companies against multiple cargo claims brought in Thailand’s Intellectual Property and International Trade Court.
  • Advised a major Korean airline on the termination of employees in Thailand based on poor performance. We reviewed the client’s extensive internal employment policies, work rules, and assessment criteria. We then issued specific recommendations on how the client should revise its policies and procedures to ensure that the company is in full compliance with Thai law.
  • Assisted an African airline with setting up a representative office in Hanoi.

PROFESSIONALS

RELATED INSIGHTS

October 25, 2023
Sale and leaseback structures and pledges of an aircraft are primary tools in Thailand for lenders to secure aircraft financing. However, these prevalent approaches come with certain limitations. Sale and leaseback structures usually require lots of documentation, while the use of pledges requires delivery of the pledged property to the pledgee and the pledged property must always remain in the possession of the pledgee or a third-party custodian as agreed to by the parties, because the pledge will be legally discharged if the pledged property is returned into the possession of the pledgor. Since 2015, there has been another alternative for securing aircraft financing in Thailand. This came with the introduction of the Business Security Act B.E. 2558 (“BSA”). The BSA allows creation of a security interest over movable property (including aircraft) as collateral to secure debt repayment or other obligations without having to deliver the property to the secured party. Therefore, it is now possible for a security interest to be created over an aircraft on a non-possessory basis. To realize this type of security interest, the BSA requires that a business security agreement be made in writing and registered with the Business Security Registration Office. Unless the parties agree otherwise, the security providers still retain the right to transfer or dispose of the secured property. However, the BSA prohibits the security providers from transferring or selling the secured property when there is a cause for enforcement of the secured property and the security receivers have notified the security providers about this cause in writing. According to the BSA, entities that are eligible to be a security holder and take business security as a secured creditor include financial institutions and other persons prescribed in ministerial regulations issued by the Ministry of Commerce or the Ministry of Finance. However,
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August 17, 2023
Attorneys from Tilleke & Gibbins’ offices in Vietnam have provided the Vietnam chapter for the Aviation Finance & Leasing 2023 guide from Chambers and Partners. The guide covers the most important legal developments affecting aircraft lessors, lessees, and financiers in 32 jurisdictions worldwide. In addition to the Vietnam chapter, Tilleke & Gibbins also contributed the Thailand chapter for Aviation Finance & Leasing 2023. Each chapter provides in-depth details on the legal regimes 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 others that affect the day-to-day operations of leading players in the aviation industry. 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 2023 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.
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August 17, 2023
Aviation specialists from Tilleke & Gibbins’ Bangkok office have contributed the Thailand chapter for Aviation Finance & Leasing 2023 from Chambers and Partners. The guide covers the most important legal developments affecting aircraft lessors, lessees, and financiers in 32 jurisdictions worldwide. In addition to the Thailand chapter, Tilleke & Gibbins also provided the Vietnam chapter for Aviation Finance & Leasing 2023. Each chapter provides in-depth details on the legal regimes 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 others that affect the day-to-day operations of leading players in the aviation industry. 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 Thailand chapter of Aviation Finance & Leasing 2023 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.
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June 20, 2023
Thailand is not a signatory to the Cape Town Convention. This means that upon an airline-lessee’s default, a lessor cannot present an Irrevocable Deregistration and Export Authorization (IDERA) document to easily repossess an aircraft. However, Thai law does allow for lessors to obtain aircraft deregisteration without the need to go to court. Pursuant to Clause 12 of the Civil Aviation Authority of Thailand (CAAT) Regulation No. 23 (Reg. 23), the Director General of CAAT has the authority to deregister an aircraft when the possessory right to the aircraft under a lease agreement has expired for any of the following reasons: The lease agreement has expired due to the lease term; The lease agreement has been terminated by either the lessor or the lessee in accordance with its termination clause; The lessor and lessee agree to terminate the lease agreement; The lessor notifies the termination of the lease agreement and submits an irrevocable deregistration power of attorney together with an application requesting the exportation of the aircraft, and the lessor or its agent submits an application for deregistration of the aircraft to the Director General. Under Reg. 23, a lessor can submit a deregistration application to CAAT asking CAAT to deregister. The deregistration application consists of evidence of the lease termination, a deregistration power of attorney (DPOA), the applicant’s certificate of incorporation, and the aircraft’s certificate of airworthiness and Certificate of Registration. CAAT will review the application and ask the lessee if it consents to the deregistration. If the lessee does not consent, CAAT may invite the lessor and lessee to one or more administrative hearings to give evidence on the dispute. If CAAT concludes that the lease has been validly terminated and the lessee no longer has possessory rights, CAAT will deregister the aircraft. Under Thai law, a lessor
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AWARDS & RANKINGS
September 12, 2025
The 2025/2026 edition of the IFLR1000 Asia-Pacific rankings, released by International Financial Law Review (IFLR), highlights Tilleke & Gibbins’ continued excellence in financial and corporate transactional work. The firm has maintained its strong rankings across multiple jurisdictions and practice areas while achieving notable upgrades and new recognitions, reaffirming its position as a leading firm in the Asia-Pacific region. This year, Tilleke & Gibbins received firmwide rankings in key jurisdictions, including: Thailand Banking & Finance—Tier 3 Capital Markets: Debt—Tier 3 Capital Markets: Equity—Tier 3 M&A—Tier 2 Project Development—Tier 2 Restructuring & Insolvency—Tier 3 Vietnam Banking & Finance—Tier 4 M&A—Tier 3 Project Development—Tier 3 Cambodia Financial & Corporate—Tier 2 Project Development—Tier 2 Laos Financial & Corporate—Tier 2 In addition to these firmwide rankings, Tilleke & Gibbins had several standout individual recognitions, with 12 lawyers honored in the 2025/2026 individual rankings—an increase from last year’s 10. This year’s results include upgraded rankings for John Frangos and new rankings for Charupat Boon-Long, Derrick Khoo, Prisna Sungwanna, and Saravut Krailadsiri. The full list is as follows: Charunun Sathitsuksomboon—Highly Regarded, M&A, Thailand; Women Leader Charupat Boon-Long—Rising Star, M&A, Thailand (new ranking) David Mol—Rising Star, Corporate and M&A, Cambodia Derrick Khoo—Rising Star (Partner), Financial and Corporate, Thailand (new ranking) Jay Cohen—Highly Regarded, Banking, Cambodia John Frangos—Highly Regarded, Restructuring & Insolvency, Thailand (upgraded ranking) Niti Muangkote—Rising Star, Financial & Corporate and Project Development, Laos; Highly Regarded, Banking & Finance, Thailand Prisna Sungwanna—Highly Regarded, Financial & Corporate, Laos (new ranking) Saithong Rattana—Notable Practitioner, Project Development and M&A, Laos Santhapat Periera—Highly Regarded, Banking & Finance and M&A, Laos; Highly Regarded, Banking & Finance, Thailand Saravut Krailadsiri—Notable Practitioner, Thailand (new ranking) Tram Ngoc Bich Nguyen—Highly Regarded, M&A, Vietnam To see the full set of IFLR1000 rankings for Tilleke & Gibbins’ jurisdictions, please see the Cambodia, Laos, Thailand, and Vietnam pages
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September 3, 2025
Tilleke & Gibbins is honored to announce that the firm has been shortlisted for three prestigious categories at the Asialaw Awards 2025. This year’s shortlist reflects the outstanding work of the firm’s teams across Southeast Asia and highlights their ongoing commitment to delivering exceptional client service in the region. In the firmwide category, Tilleke & Gibbins was nominated for: Cambodia Firm of the Year Laos Firm of the Year In the individual category, Prisna Sungwanna was shortlisted for Laos Female Lawyer of the Year, joining an impressive field of nominees from other leading firms. The Asialaw Awards celebrate the most outstanding firms and lawyers across the Asia-Pacific region. The 2025 winners are set to be announced at an awards ceremony in Ho Chi Minh City in November. For more information on the Asialaw Awards 2025 and to browse a full list of the nominees, please visit the Asialaw website.
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July 21, 2025
Tilleke & Gibbins has been nominated for Southeast Asian Firm of the Year at Law.com’s Asia Legal Awards 2025. This nomination follows the firm’s win last year and reflects the team’s ongoing commitment to delivering exceptional legal services across the region. The winner will be announced at the in-person awards ceremony in Singapore on September 10, 2025. For more information on the Asia Legal Awards 2025, and to browse the full list of nominees in all categories, please visit the Law.com International website.
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