Aircraft Repossession & Asset monitoring – Aircraft Leasing

The lessor who is responsible for an asset often worth tens or hundreds of millions of US dollars will want to keep a keen eye on their asset. Not only is the asset protected by a lease agreement detailing multiple conditions to be met at aircraft return and conditions throughout the lease, but there will also be clauses that might allow an aircraft to be taken back in extreme circumstances.

It is therefore very important to maintain frequent and regular communication with the lessee not only to manage the relationship, but also to maintain oversight of the asset.

 

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Lessee Checks – Aircraft Lease returns.

Lessee Checks – Aircraft Lease returns.
 
Before an aircraft is leased to an airline there must be many checks carried out. Some of these checks will ensure that the airline has the ability to pay the lease costs and also that there are not any issues that might suggest there being any issue. These kinds of checks are commonly called “due diligence” where a view is taken to protect the asset with some basic checks.

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Aircraft Capability Statements – Aircraft Lease Return

Aircraft Capability Statements – Aircraft Lease Return

A capability is something which the aircraft can do, is capable of and is certified to do.

Some aircraft may have a capability, but not use it – an example might be ETOPS. Extended Twin Operations is a set of compliance rules that govern how an aircraft on two engines can fly with relation to vicinity of an airport.

Just because an aircraft can be ETOPS does not mean it is. (ETOPS can also be known as EDTO “Extended Diversion Time Operations”.

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Landing Gear and Back to Birth Record Considerations

IALTA

Moving on from the prior post we considered about landing gear Life Limited Part (LLP) / Safe Life Item (SLI) awareness, to now consider what we might look for in the review of the back to birth (BTB) history.

We noted that we need to establish the history of the part since it was manufactured and as such we need for each time the LLP/SLI was removed and installed the details of these occurrences to create a full history record for that part.

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Landing Gear and Back to Birth Record awareness

Landing Gear and Back to Birth Record awareness

Some part on an aircraft landing gear is defined as having a life span that cannot be extended. These parts must be disposed of at this point regardless of their condition; they are commonly known as SLI – Safe Life Items or LLP – Life Limited Parts.
The landing gear itself is a complex component and while some items can be replaced “on wing” (with the landing gear installed in the aircraft); there are many items that need the landing gear removed from the aircraft to accomplish replacement.

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