Mid-Lease Inspection –Checklist

During the asset Life-Cycle the lessor has a duty to carry out aircraft due diligence on a periodic basis at a frequency agreed in the Aircraft Lease Agreement, this due diligence is commonly referred to as the “Mid-Lease”or “Mid-Term” Inspections.

We have looked at the varying different areas in the past few weeks and you can explore these posts to learn more –in a summary of these, it is important to define the required scope of what data needs to be collected.

This is where a checklist can come in and ensure that you gain all the data required –with this post you can download our guide on what to review at a typical mid-lease inspection noting how the requirements have changed significantly over the years and in particular the volume of Technical Records required has increased.

Below, we have attached a PDF of a typical mid-lease technical records audit checklist.[embeddoc url=”https://ialta.aero/wp-content/uploads/2023/03/1-Mid_Lease_Inspection_Download.pdf”]

The Tech Specs are used internally in the leasing company to assist with determining the aircraft value and will be analysed by the “deal teams” when marketing the asset for its next event, lease, or sale. The lessor/owner technical teams are responsible for coordinating the mid-lease inspections and performing a quality check on the received data.

The data is then uploaded to the internal IT platform. The Maintenance Reserve Fund department will also frequently access the Technical Specs information alongside monthly utilisation reports.

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