The Geneva Convention seeks to provide a solution to the problems
of recognising and enforcing financiers’ rights in aircraft. The condition is that
such rights have been created in accordance with the laws of the state where
the aircraft is registered. The objectives of the Geneva Convention are:
creditor protection for lenders who have financed the purchase
of aircraft and obtained a collateral on the aircraft itself
(mortgage);
provision of rules defining priority of claims; and
facilitation of the transfer of aircraft between national
registers Articles I, III, IV, V, VII and IX of the Geneva Convention.