INTRODUCTION. An aircraft bears nationality of the state in which it is registered. This rule was first set in international air law conventions in the beginning of the XX century and it is still effective. At the same time there are no established criteria which the state entitled to put an aircraft in its register should fit. Due to this for the time being, aviation liberalization and deregulation have made it possible for air carriers to use leased aircraft registered in another states, and to adopt common maritime “flags of convenience” practice. This is true for our country, as more than 80% of fleet used at regular passenger flights by major Russian airlines, including the national carrier Aeroflot, is registered outside the Russian F...