A Study on Applicable Law of Aircraft Leasing Contract from the Perspective of Chinese Practice

The applicable law of aircraft leasing contract is always selected by contract parties in the process of contract concluding, and the law of England and New York has usually been chosen. The methods and choice for choosing applicable law of aircraft leasing contract, are decided by many factors such as leasing market worldwide, long-preserved transaction practice, legal characteristics of England and New York. With the very fast development of Chinese aviation leasing industry, a dilemma is faced by leasing enterprises for the choice of applicable law. From the perspective of future development of Chinese aviation industry and practical need, China should gradually wean itself from this kind of dependence. Chinese aircraft leasing enterprises are currently on a transitional stage. The choice of applicable law shouldn't be changed without re-assessment of legal risk. As for contracts newly concluded, the choice of Chinese law should be insisted on. Meanwhile, the work for changing choice of law of aircraft leasing contract cannot be done solely by leasing enterprises themselves. Legislative and judicial sectors should be involved too.