In Europe, the aircraft must be equipped with BRNAV (Basic aRea NAVigation) kit if it operates above FL095. This allows it to fly to intersections, etc.
Your 727 would be a very uneconomical beast if it had to stay below FL095 for its flight
For aircraft which lose BRNAV capability (either when airborne or with dispensation obtained before the flight), then ATC have the ability to provide the appropriate assistance.