7. Is there a requirement for the registration of a pledge on an aircraft?

Yes. According to Kyrgyz law, an aircraft must be registered by the pledgee (creditor), with the Central Pledge Registration Office under the Ministry of Justice. The registration has the effect of giving public notice and prioritizes against the claims of other creditors and third parties.
If an aircraft is subject to more than one pledge then the respective pledgees' claims then are satisfied on a first-come, first-serve basis, by reference to the date and time of each pledge registration. Thus, the pledgee who first registered a security interest in the aircraft will have priority over subsequent pledges registered by other pledgees’.