Introduction
The acquisition of an Airbus A320, Boeing 737, Gulfstream, Bombardier Global, Dassault Falcon, Embraer, or any other commercial or private aircraft is legally far more complex than an ordinary sale of movable property. Due to the multimillion-dollar value of aircraft, international registration systems, airworthiness requirements, financing structures, mortgages, rights over engines and equipment, export and import procedures, and the numerous simultaneous legal steps required at delivery, aircraft transactions constitute a highly specialized field of law.
From a Turkish law perspective, the primary legislation is Turkish Civil Aviation Law No. 2920 (“TCAL”). In addition, regulations and administrative practices of the Directorate General of Civil Aviation (“DGCA” or “SHGM”), particularly the Regulation on Aircraft Nationality and Registration Marks (SHY-7), DGCA aircraft registration procedures, the Turkish International Private and Procedural Law No. 5718, and, where international financing is involved, the Cape Town Convention and Aircraft Protocol, must be considered together.
In practice, an aircraft acquisition transaction usually proceeds through the following legal sequence:
Letter of Intent → Due Diligence → Aircraft Purchase Agreement → Pre-Purchase / Pre-Delivery Inspection → Technical Acceptance → Closing → Bill of Sale → Acceptance Certificate → Delivery → Deregistration / Registration → Title and Security Registration.
Each of these stages serves a different legal function. In particular, delivery of the aircraft, acceptance of the aircraft and transfer of legal title are not necessarily the same legal event.
1. Legal Nature of Aircraft Under Turkish Law
Under Article 65 of Turkish Civil Aviation Law No. 2920, unless otherwise provided by law, aircraft are generally subject to the legal rules applicable to movable property.
However, due to their substantial economic value and international mobility, aircraft are governed by a special system of registration and proprietary rights that differs significantly from the ordinary rules applicable to movable assets.
Under Article 66 of the TCAL:
The establishment, transfer or assignment of ownership and other rights in rem over an aircraft, whether in whole or in part, must be made by written agreement.
The same provision further establishes that such transactions cannot be asserted against third parties unless they are registered in the Aircraft Registry.
This distinction is extremely important.
Under Turkish law, two separate legal dimensions must therefore be distinguished:
the transfer of ownership between the parties, and
the registered legal status capable of being asserted against third parties.
Accordingly, while a written agreement constitutes the principal legal basis for the transfer of ownership, registration has particular significance in relation to third-party enforceability.
Therefore, a statement frequently encountered in practice — namely that “ownership of an aircraft passes only upon registration” — should be approached carefully from a Turkish law perspective.
The administrative practice of the Turkish Directorate General of Civil Aviation nevertheless requires any change of ownership to be recorded in the Turkish Civil Aircraft Registry and requires the submission of the relevant aircraft sale documentation.
Consequently, executing an Aircraft Purchase Agreement alone should not be regarded as sufficient. The agreement should clearly coordinate the moment of title transfer, physical delivery, payment of the purchase price and registration of the new owner.
2. The First Stage of an Aircraft Acquisition: Letter of Intent – LOI
In international aircraft transactions, it is relatively uncommon for the parties to immediately enter into a detailed Aircraft Purchase Agreement.
The transaction often begins with a Letter of Intent (“LOI”), term sheet or offer letter.
The primary purpose of an LOI is not necessarily to regulate every legal issue, but rather to establish the principal commercial terms on which the parties intend to proceed.
An LOI commonly addresses matters such as:
the aircraft model and serial number,
purchase price,
deposit,
inspection procedure,
anticipated closing date,
delivery location,
escrow agent,
allocation of transaction costs, and
exclusivity period.
One of the most important legal issues is whether the LOI is intended to be binding or non-binding.
In international practice, the principal obligation to complete the aircraft sale is often stated to be non-binding, while certain provisions — particularly confidentiality, exclusivity, deposits, governing law and dispute resolution — may expressly remain binding.
Accordingly, an LOI should clearly identify which provisions are legally enforceable.
Otherwise, one party may later argue that the LOI constituted a binding preliminary agreement or even an enforceable sale agreement.
Where Türkiye is connected with the transaction, provisions of the Turkish Code of Obligations relating to contract formation, pre-contractual liability and preliminary agreements may also become relevant.
3. Deposit and Escrow Structure
Aircraft sale transactions commonly require the buyer to pay a deposit representing a specified portion of the purchase price.
However, transferring a substantial deposit directly to the seller creates significant risk for the buyer, particularly in transactions involving aircraft worth tens of millions of dollars.
For this reason, international aviation transactions frequently rely on an independent escrow agent.
The deposit is transferred to an escrow account and is not released to the seller until the conditions agreed in the Aircraft Purchase Agreement are satisfied.
For example, in a USD 30 million business jet acquisition, the buyer may be required to deposit USD 1 million into escrow.
The Purchase Agreement should clearly state whether the deposit is:
refundable, non-refundable, or applicable toward the purchase price.
The treatment of the deposit becomes particularly important where the pre-purchase inspection identifies material technical defects and the buyer decides not to proceed with the transaction.
The consequences of rejection must therefore be expressly regulated.
4. Aircraft Due Diligence: Investigating the Legal History of the Aircraft
Legal due diligence in an aircraft acquisition extends far beyond reviewing the corporate documents of the seller.
One of the principal investigations is a title search, namely an examination of the aircraft’s ownership history and existing proprietary interests.
The buyer should determine whether the seller is the lawful owner and whether the aircraft is subject to:
mortgages,
liens,
attachments,
interim injunctions,
international interests,
leases, or
other third-party rights.
Where the aircraft is registered in Türkiye, particular attention should be given to:
the registered owner,
aircraft mortgages,
attachments,
interim injunctions,
operator information,
financial leasing arrangements, and
other registered encumbrances.
If an aircraft mortgage exists, the closing must be coordinated with the release or discharge of that mortgage.
Articles 69 et seq. of the TCAL specifically regulate aircraft mortgages.
In general, the establishment of a contractual aircraft mortgage requires both an agreement between the owner and creditor and registration of that mortgage in the aircraft registry.
5. Aircraft Purchase Agreement
The central legal document in an aircraft acquisition is the Aircraft Purchase Agreement (“APA”), sometimes referred to as an Aircraft Sale and Purchase Agreement.
An APA is not merely an agreement under which “the seller sells the aircraft and the buyer pays the price.”
Particularly in high-value commercial aircraft transactions, the agreement may consist of extensive legal provisions accompanied by numerous technical schedules and annexes.
Under Article 66 of the TCAL, the requirement for a written agreement is also important from the perspective of Turkish substantive law.
A properly drafted APA will generally regulate, among other matters:
purchase price,
payment mechanics,
deposit,
inspection rights,
delivery condition,
delivery location,
representations and warranties,
technical records,
title warranties,
liens and encumbrances,
insurance,
allocation of taxes,
closing conditions,
events of default,
termination,
indemnification,
governing law, and
dispute resolution.
The APA therefore constitutes the legal framework within which the entire transaction is implemented.
6. Difference Between Purchasing a New Airbus or Boeing and Purchasing a Used Aircraft
Purchasing a newly manufactured Airbus or Boeing directly from the manufacturer differs significantly from acquiring a used aircraft from another airline, leasing company or aircraft investor.
Transactions involving newly manufactured aircraft are generally governed by a manufacturer purchase agreement.
The buyer will normally determine matters such as:
production slot,
aircraft specification,
engine type,
cabin configuration, and
delivery schedule
well before the aircraft is completed.
The purchase price may also be paid through a series of pre-delivery payments (“PDPs”) rather than through a single payment at delivery.
By contrast, in a used aircraft transaction, the principal concern is the aircraft’s existing legal and technical condition.
For this reason, a pre-purchase inspection assumes a central role in used-aircraft acquisitions.
7. Pre-Purchase Inspection and Pre-Delivery Inspection
The fact that an aircraft appears to be physically in good condition does not mean that it is legally or technically acceptable for delivery.
The buyer will normally appoint independent technical consultants, engineers or a maintenance, repair and overhaul organisation (“MRO”) to inspect the aircraft.
The inspection should not be limited to the physical airframe.
Aircraft records are often a significant part of the aircraft’s economic value.
Missing maintenance records, engine life-cycle documentation, life-limited parts (“LLP”) records or airworthiness directive compliance documents can materially reduce the value of an aircraft.
Following the inspection, identified discrepancies are addressed in accordance with the Purchase Agreement.
Certain defects may have to be corrected by the seller before closing.
Others may result in a purchase price adjustment.
Some defects may constitute a rejection condition, allowing the buyer to terminate the transaction.
Accordingly, the inclusion of an “as-is, where-is” provision should not automatically be interpreted as transferring every technical risk to the buyer.
The inspection provisions, representations and warranties and agreed delivery condition must be assessed together.
8. Delivery Condition
One of the most important provisions in any Aircraft Purchase Agreement is the Delivery Condition clause.
Physical transfer of the aircraft alone may not constitute contractual delivery.
For example, the agreement may require the aircraft to be delivered:
in an airworthy condition,
in compliance with the applicable maintenance programme,
in compliance with airworthiness directives,
with specified minimum engine life,
free from specified damage, and
with complete technical records.
Therefore, “delivery” is generally broader than the mere transfer of physical possession.
The buyer should not execute an Acceptance Certificate unless the agreed delivery conditions have been satisfied or expressly waived.
9. What Is an Acceptance Certificate?
One of the most important closing documents in an aircraft transaction is the Acceptance Certificate.
Through this document, the buyer acknowledges that it has inspected and accepted the aircraft in accordance with the Purchase Agreement.
However, the execution of an Acceptance Certificate is not necessarily the same as the transfer of title.
The moment at which title passes depends on the terms of the Aircraft Purchase Agreement and the law applicable to the proprietary transfer.
For example, the agreement may provide that:
“Title to the Aircraft shall pass to Buyer simultaneously with payment of the Purchase Price and delivery of the Bill of Sale.”
Under such a provision, acceptance alone does not transfer title.
Payment, delivery of the Bill of Sale and satisfaction of the agreed closing mechanics may all be required.
The Acceptance Certificate may also limit the buyer’s ability to raise claims concerning obvious defects or discrepancies that could reasonably have been identified during the inspection.
Accordingly, technical and legal teams should coordinate before an Acceptance Certificate is executed.
10. Bill of Sale and Transfer of Title
One of the key documents in the closing of an international aircraft sale is the Bill of Sale.
A Bill of Sale is typically a relatively short instrument through which the seller confirms the transfer of legal title in the identified aircraft to the buyer.
While the Aircraft Purchase Agreement establishes the detailed terms of the transaction, the Bill of Sale often functions as the operative title-transfer document at closing.
From a Turkish law perspective, however, it should not automatically be assumed that a Bill of Sale alone will satisfy all legal and registration requirements.
The TCAL and DGCA registration requirements must be considered together.
Accordingly, where an aircraft is purchased from a foreign seller and is to be registered in Türkiye, the Aircraft Purchase Agreement, Bill of Sale, apostille requirements, notarised translations and other documents required by the DGCA should be coordinated before closing.
11. How Does an Aircraft Closing Work?
An aircraft closing generally involves the simultaneous release and exchange of numerous documents and funds.
The buyer’s payment of the purchase price into escrow does not, in itself, necessarily complete the transaction.
The seller must also provide the agreed closing documents to the escrow agent or closing counsel.
Once the closing conditions have been satisfied, the documents and funds are released simultaneously.
This structure reduces risks such as:
the buyer paying the purchase price without receiving title, or
the seller transferring title without receiving the purchase price.
A properly prepared closing memorandum or closing checklist should identify:
which document is to be delivered,
by which party,
in what order,
to whom,
and subject to which release condition.
12. Registration in the Turkish Civil Aircraft Registry
The Turkish civil aircraft registry is maintained by the Directorate General of Civil Aviation.
Article 50 of the TCAL refers to the official registry in which Turkish civil aircraft are registered as the Aircraft Registry.
Completion of the sale transaction alone is not sufficient for an aircraft to be registered in Türkiye.
Under Article 60 of the TCAL, the aircraft must generally:
qualify as a Turkish civil aircraft,
not be registered in another country or have been validly deregistered from the previous registry, and
satisfy the applicable airworthiness requirements.
Accordingly, where a Gulfstream registered in the United States is purchased and transferred to the Turkish register, the previous FAA registration must be properly terminated and the necessary deregistration documentation obtained.
An aircraft cannot ordinarily remain simultaneously registered in two national aircraft registries.
13. Deregistration and Export Certificate
One of the most sensitive stages of a cross-border aircraft transaction is the coordination between deregistration from the existing registry and registration in the new jurisdiction.
The aircraft may need to be removed from the seller’s national register before final Turkish registration can be completed.
However, premature deregistration can affect the aircraft’s legal ability to fly.
Accordingly, ferry flights, temporary registration, export certificates and insurance coverage must be planned in advance.
Where an aircraft is being brought to Türkiye for registration and the ferry flight is to be conducted under Turkish registration marks, temporary registration mechanisms may become relevant.
Documents that may be required include:
deregistration confirmation from the former state of registry,
export certificate of airworthiness,
aircraft flight manual information,
insurance documentation covering the ferry flight, and
other technical or regulatory documents.
14. Transfer of Ownership and Registration Are Not the Same Thing
One of the most important legal points in Turkish aircraft transaction law is the distinction between ownership transfer and registration.
Under Article 66 of the TCAL, a written agreement constitutes the legal basis of the transfer of ownership and other rights in rem.
However, unless the relevant transaction is registered, it may not be asserted against third parties.
Accordingly, an aircraft sale may be legally effective between the parties while the aircraft registry continues to show the former owner.
This situation may create considerable risk.
For this reason:
Aircraft Purchase Agreement → title transfer → possession → registration
should, wherever possible, be coordinated within the same closing structure.
The objective should be to minimise any period during which contractual title and registered title are inconsistent.
15. Change of Ownership of an Aircraft Already Registered in Türkiye
Where an aircraft already registered in Türkiye is sold to another Turkish or foreign buyer, the transaction is also subject to a formal change of ownership procedure.
In practice, the DGCA may require documentation including:
registration application forms,
the executed aircraft sale agreement,
termination of any previous operating arrangement,
new operating agreement where applicable,
corporate signature documents,
tax-related documents,
insurance certificates,
the original registration certificate, and
evidence of payment of the applicable administrative fees.
In addition, Article 57 of the TCAL generally requires interested parties to notify and register changes to registry information within the statutory period.
Therefore, post-closing registration steps should be treated as an integral part of the transaction rather than as an administrative formality to be addressed later.
16. Foreign Owner – Turkish Operator Structures
In aviation transactions, the legal owner of an aircraft and its operator do not necessarily have to be the same entity.
Particularly in leasing and aircraft financing structures, the legal owner may be:
a foreign special purpose vehicle (“SPV”),
aircraft leasing company,
investment vehicle, or
financing institution,
while the aircraft is commercially operated by a Turkish airline.
Turkish civil aviation law allows certain foreign-owned aircraft to be operated under Turkish registration structures where the statutory conditions are satisfied.
As a result, the following concepts should be distinguished:
registered owner, beneficial owner, lessor, lessee and operator.
Confusing these roles may create significant issues when drafting sale, lease and financing documents.
17. Governing Law: Turkish Law or English Law?
A substantial number of international aircraft purchase agreements are governed by English law or New York law.
From a Turkish private international law perspective, two different legal questions must be distinguished.
The first concerns the law governing contractual obligations under the Aircraft Purchase Agreement.
The second concerns the law governing proprietary rights in the aircraft.
Under Article 24 of Turkish International Private and Procedural Law No. 5718, contractual obligations may generally be governed by the law chosen by the parties.
Accordingly, the parties may, subject to applicable mandatory rules, choose English law, New York law or Turkish law as the governing law of the APA.
However, Article 22 contains a specific rule concerning rights in rem over aircraft.
In general, proprietary rights over aircraft are connected to the law of the state in which the relevant aircraft registry is maintained.
Therefore, even if an Aircraft Purchase Agreement is governed by English law, Turkish law may remain relevant to questions concerning ownership, mortgages and other proprietary interests in an aircraft registered in Türkiye.
This distinction is fundamental in cross-border aircraft transactions.
18. Cape Town Convention and International Registry
In major commercial aircraft and engine financing transactions, reviewing the Turkish Civil Aircraft Registry alone may not be sufficient.
Türkiye is a contracting state to the Convention on International Interests in Mobile Equipment, commonly known as the Cape Town Convention, together with the Protocol on Matters Specific to Aircraft Equipment.
Article 68/A of the TCAL recognises the priority of the Cape Town Convention and Aircraft Protocol where their provisions differ from Turkish domestic law on matters within their scope.
Accordingly, acquisitions involving financed Airbus or Boeing aircraft may require an International Registry search.
The International Registry regime may apply separately to qualifying:
airframes,
aircraft engines, and
helicopters.
Therefore, an aircraft appearing free from mortgage in the Turkish register may still be subject to an international interest registered under the Cape Town system.
Due diligence should therefore cover both domestic and international registries where applicable.
19. Importance of IDERA
Another important document in aircraft finance transactions is the Irrevocable De-Registration and Export Request Authorisation (“IDERA”).
An IDERA is particularly important for financiers and lessors because it provides a mechanism through which the authorised party may seek deregistration and export of the aircraft following an agreed default scenario.
Türkiye has administrative procedures governing the recording and recognition of IDERAs in connection with the Turkish Civil Aircraft Registry.
Accordingly, when purchasing a financed aircraft, the buyer should investigate not only existing aircraft mortgages but also any registered or effective IDERA arrangements.
20. Tax Considerations
The purchase price is not the only financial consideration in an aircraft acquisition.
Depending on the structure of the transaction, issues concerning:
VAT,
customs duties,
stamp tax, and
other fiscal liabilities
may arise.
Under Turkish VAT legislation, certain aircraft deliveries made to taxpayers whose activities involve the leasing or commercial operation of aircraft may qualify for exemptions under specified conditions.
However, such exemptions do not automatically apply to every business jet or private aircraft acquisition.
The nature of the purchaser’s business, the intended use of the aircraft and the precise transaction structure must therefore be examined before the Purchase Agreement is signed.
Tax structuring should be completed before closing rather than addressed after ownership has already been transferred.
21. Representations and Warranties
The seller’s representations and warranties are among the most important provisions of an Aircraft Purchase Agreement.
At a minimum, the seller would ordinarily be expected to represent that:
it is the lawful owner of the aircraft,
it has authority to enter into and complete the transaction,
it has power to transfer title, and
at closing the aircraft will be transferred free and clear of all liens and encumbrances other than those expressly permitted.
Particularly important concepts include:
good and marketable title, and
free and clear of all liens and encumbrances.
Technical warranties may differ substantially between new-aircraft and used-aircraft transactions.
In many used-aircraft transactions, technical warranties are heavily limited and the aircraft is sold substantially on an “as-is” basis.
Title warranties, however, are generally treated more strictly because a buyer should not bear the risk that the seller does not have valid title.
22. Why Is the Delivery Location Important?
The delivery location is not merely a logistical matter.
The jurisdiction in which delivery takes place may affect:
taxation,
customs treatment,
transfer of risk,
insurance,
export formalities, and
application of mandatory legal rules.
Accordingly, the parties should avoid vague provisions stating only that delivery will occur in “Istanbul” or “London”.
The agreement should ideally identify the specific airport or agreed delivery point and explain the associated closing mechanics.
Certain international aircraft transactions also use offshore delivery structures for regulatory, customs or tax reasons.
Such structures require careful legal and tax analysis to ensure compliance with applicable laws.
23. When Does Risk of Loss Pass to the Buyer?
Transfer of title and transfer of risk do not always have to occur at exactly the same moment.
The Aircraft Purchase Agreement should clearly regulate risk of loss.
For example:
Who bears the risk if the aircraft is damaged in the hangar before acceptance?
Who bears the risk if the aircraft is involved in an accident during a delivery flight?
What happens if closing documents have been signed but funds have not yet been released?
These questions should not be left to interpretation.
In many transactions, the seller retains the risk of loss and maintains insurance coverage until closing.
Once closing occurs, the risk passes to the buyer.
However, the parties may agree on a different allocation.
24. Separate Legal Significance of Aircraft Engines
On large commercial aircraft such as Airbus and Boeing aircraft, engines may represent a substantial part of the overall value of the asset.
Because airlines frequently use:
engine pooling,
engine leasing,
engine swapping, and
temporary replacement arrangements,
it should never automatically be assumed that the engines installed on an aircraft are owned by the airframe owner.
The Aircraft Purchase Agreement should therefore separately identify engine information, including:
manufacturer,
model,
serial number,
ownership status, and
maintenance condition.
Under the Cape Town regime, qualifying aircraft engines may also be subject to separate international interests.
Accordingly, title due diligence should not be conducted solely by reference to the airframe serial number.
25. Delivery of Aircraft Records and Documentation
Delivery in an aircraft transaction does not merely involve handing over the physical aircraft.
Complete delivery of aircraft records is often a fundamental closing condition.
Relevant documentation may include:
maintenance records,
aircraft logbooks,
engine records,
component records,
modification documents,
repair records,
airworthiness directive compliance records, and
operational documentation.
Missing engine or maintenance records can significantly affect both the market value and future operability of the aircraft.
For this reason, the Purchase Agreement should ideally include a detailed Delivery Documents List as an annex.
26. Dispute Resolution: Courts or Arbitration?
Because international aircraft sales commonly involve parties from different jurisdictions, dispute resolution clauses require particular attention.
High-value aircraft transactions may provide for arbitration in jurisdictions such as London, Paris or Singapore.
Institutions or rules such as:
ICC,
LCIA, or
ad hoc arbitration
may be considered.
However, matters such as:
registry corrections,
interim injunctions,
attachments,
aircraft mortgages, and
emergency relief relating to the physical aircraft
may require applications to state courts in the jurisdiction where the aircraft or registry is located.
Accordingly, a short provision stating merely that:
“Any dispute shall be settled by arbitration”
may be insufficient.
The agreement should address:
governing law,
seat of arbitration,
applicable arbitration rules,
language,
number of arbitrators,
interim measures, and
enforcement.
27. Legal Closing Checklist for an Aircraft Acquisition
Before completing a high-value aircraft transaction, the parties should generally ensure that at least the following legal matters have been addressed:
- Verification of the seller’s ownership and authority to sell.
- Investigation of mortgages, liens, attachments and other encumbrances over the aircraft and engines.
- Search of the International Registry where the Cape Town Convention applies.
- Alignment of the Aircraft Purchase Agreement, Bill of Sale and Acceptance Certificate.
- Completion and acceptance of the technical inspection.
- Preparation of deregistration and export documentation.
- Confirmation that the purchase price is available in escrow.
- Coordination of the seller’s and buyer’s insurance coverage with the exact closing time.
- Preparation of DGCA registration documents.
- Completion of apostille, legalisation and certified translation requirements where necessary.
- Analysis of tax and customs consequences.
- Confirmation of mortgage releases, IDERA arrangements and financing-related registrations.
- Preparation of a closing memorandum clearly identifying the order in which funds and documents will be released.
Conclusion
Aircraft sales and purchases in Türkiye involve significantly more than the execution of a simple sale agreement.
A modern aircraft acquisition is built around the coordinated completion of:
the LOI, escrow arrangements, legal and technical due diligence, Aircraft Purchase Agreement, pre-purchase inspection, delivery condition, Acceptance Certificate, Bill of Sale, payment, deregistration, Turkish aircraft registration and, where applicable, Cape Town International Registry procedures.
From the perspective of Turkish law, Articles 65 and 66 of Turkish Civil Aviation Law No. 2920 are particularly important.
Although aircraft are generally classified as movable property, the transfer of ownership and other proprietary rights is governed by special aviation-law rules.
The written agreement provides the legal basis for the transfer between the parties, while registration plays a central role in third-party enforceability and legal certainty.
In cross-border transactions, the law governing the contractual relationship must also be distinguished from the law governing proprietary rights over the aircraft.
While the parties may select a foreign law such as English law to govern their Aircraft Purchase Agreement, Turkish law may continue to apply to proprietary rights associated with aircraft registered in the Turkish Civil Aircraft Registry.
In major commercial aircraft and financed business-jet acquisitions, the Cape Town Convention, Aircraft Protocol, International Registry and IDERA mechanisms may also become integral parts of the transaction.
For this reason, the acquisition of an Airbus, Boeing or high-value business jet should involve not only technical due diligence but also aviation-specific legal due diligence.
Legal counsel, technical advisers, escrow agents, financing institutions and civil aviation authorities should work in coordination throughout the closing process.
A poorly structured aircraft acquisition may result in significantly more than an ordinary contractual dispute. It may lead to uncertainty over legal title, previously undisclosed mortgages or international interests, inability to deregister the aircraft, delays in Turkish registration or the inability to place the aircraft into commercial operation.
For aircraft transactions involving assets worth tens or hundreds of millions of dollars, such problems can result in substantial financial losses.
Accordingly, the fundamental principle of a properly structured aircraft acquisition should be:
first verify the aircraft’s legal and technical status, and only then proceed with a simultaneous and controlled closing.
No Responses