Yes. Siezure of property during wartime with just compensation is recognized under international law, and has been around in one form or another for all of known history, usually historically associated with sailing vessels but it doesn't have to be. If we were shy of planes to transport troops during wartime, and Lufthansa had planes at a nearby airport, it would be legal under international law to "borrow" them for our use, provided we paid Lufthansa back later.

During FDR's administration, this was extended to a concept of an emergency situation which co-opts the right of due process, which really has been horribly abused for everything from the Vietnam War to the "War on Drugs."