Introduction
This article is part of a series on protecting the interests of aircraft owners and lessors.(1) In the context of political uncertainty in Peru, this article explains the remedies that the Civil Aviation Law provides to aircraft and engine owners and lessors to guarantee their property and creditors rights.
Until 2006 the Civil Aviation Law set out the following remedies:
aircraft and engine detention;
engine pledges.
However, since the enactment of the Security Interest Law, which replaced aircraft mortgages and engine pledges with security interests, detention is the only remedy offered by the Civil Aviation Law (other mechanisms are available in other statutes).