Aircraft Lease Management
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1 Aircraft Lease Management Beginning, End and Everything in Between Lima, Peru 21 January, 2015
2 What is an Aircraft Lease Agreement Establishes the commercial, legal, technical, operational and legal framework for the lease of a very high cost asset. It is a legal instrument that will assure the Lessee a quiet enjoyment of the asset during the term of the Lease. It is a legal risk avoidance instrument for the Lessor by which the asset is operated, maintained and redelivered under certain specific conditions in order to protect the asset s value.
3 Main components of an Aircraft Lease Agreement Definitions Commercial Rent Structure Tax environment Term Registration Extension options Legal Insurance
4 Maintenance Requirements in a Lease Contract Registration Maintenance Certification Requirements. Delivery and Return Conditions Maintenance Reserves Reimbursement procedures Workscope approvals AD cost sharing Equipment non-discrimination clause Maintenance programs Use of PMA s
5 Maintenance Reserves Airframe Heavy or Overhaul C checks Engines Performance Restoration Life Limited Parts Landing Gear APU Performance Restoration Life Limited Parts.as applicable.now Thrust Reversers
6 End of Lease Financial Adjustments For new or used Aircraft. When no maintenance reserves are incorporated in the lease Instrument used to compensate the Lessor for the usage of the asset Time/Cycles since new/since shop visit
7 Delivery and Redelivery compliance Records Should be treated with utmost importance. There is no aircraft without records. Redelivery Location Paint Status Thrust Reversers General Aircraft condition. Normal Wear and Tear C check requirements No deferred maintenance items. AD compliance No Fuel leaks Interior condition Emergency Equipment Hard time components Aviation authority required modifications. Export Certificate of Airworthiness Structural status. Dent and Buckle Chart Flush repairs and No temporary or time-limited repairs Windows. No delamination
8 Delivery and Redelivery Compliance Engines and APU Power Assurance Runs / APU condition test Full gaspath Video Borescope Inspections No on-watch items Oil analysis Filter inspections Checks and Parts lives C check clear for X months/y flight hours /Z Cycles Engines Time and Cycles Since or Time to Shop visit (needs to be defined) Hard time components APU Landing gear Brakes and Tires Non-Incident/Accident Statement Demo Flight
9 Maintenance event modeling during the term of the lease Model maintenance events through the life of the lease Will provide knowledge of maintenance event costs and budgeting parameters. Should be incorporated into the life of lease budgeting. Will give the Lessor and Operator a clear view of Maintenance status of Asset at any point of the Lease Term A very effective tool for evaluating compliance status with delivery or redelivery conditions.
10 Costs 1. Records completeness 1. Back to Birth Trace (Engines, Landing Gear and APU) 2. AD compliance 3. Modifications 2. Engines 1. Redelivery Conditions 2. Borescope Inspections 3. Modifications 1. ADS B 2. FTIS 3. HUD 4. Data Link
11 Case Study Asian operator Sale Lease Back on new aircraft Specific Term to match a heavy airframe inspection event (12 Y check) Return conditions Financial adjustments to full life No Maintenance Reserves
12 Lease Management Key items to keep in mind in the Lease Shop Visit wording Lease Term Penalty Payments Mods that need to be complied Redelivery conditions Borescope Inspections Flammability requirements and compliance Understanding of AD compliance within the Lease Term Maintenance Contributions
13 Thank You Telf: : Cusco Aviation, LLC : Cusco Aviation, LLC
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