Aircraft Lease Return and Aircraft Physical Reviews

Aircraft Lease Return and the Aircraft Physical Review is complex and performing a structural physical review of an aircraft is a critical aspect of aircraft leasing and return. This process can be carried out by a range of people, but the benefit of the right person cannot be underestimated.

The task is requiring detailed knowledge, experience, and vigilance.

Overlooking or failing to query defects can lead to issues such as ground time, a lost flight and lease revenue impacts. Hence, the implications of this review are far-reaching.

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Aircraft Leasing – Service Bulletin Considerations at end of lease – Engines

Service Bulletins commonly referred to as “SBs” are airworthiness documents that originate from the original equipment manufacturer (OEM).

When leasing an aircraft, the lessee is typically provided a complete certified list of all Service Bulletins (SB) incorporated on that specific aircraft, covering its entire operational life, not just the period of the lease.

A comprehensive detailed report should be made available to the concerned parties, detailing the full SB status.

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The maintenance plan and your aircraft – awareness during an aircraft lease transition.

The maintenance plan and your aircraft are important lease considerations for awareness during an aircraft lease transition; the maintenance program will be developed by a CAMO (Continued Airworthiness Management Organisation) based on multiple documents from the manufacturer of the aircraft and components along with other factors such as local authority requirements.

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Aircraft Leasing and Non-compliance on return or hand back

Within aircraft leasing the non-compliance on return or hand back can have severe and expensive implications; during a lease the operation of the aircraft is governed by airworthiness requirements and continued safety / compliance with the aviation authority requirements.

Following on from this then the end of lease will occur, and the aircraft is handed back to the lessor if it meets the lease return conditions – remember airworthiness compliance does not mean lease return compliance. The lease is about asset protection primarily and not airworthiness.

Considering this it means that for a lease return we need to prepare the aircraft and ensure compliance which will mean a thorough and complex review of the records.

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Aircraft Leasing and Protection of the Asset

In aircraft leasing there is a lot of importance on protection of the asset; the asset value is at the core of any financial consideration and an aircraft lease is not any different. The lessor is looking after the aircraft and engines as an asset and as such there will be multiple considerations that are not directly related to airworthiness such as not allowing lessees to use the aircraft a security for loans and also about ownership responsibilities and obligations.

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