In the “Mid-Lease” or “Mid-Term” Inspections as we looked at in a prior post we have to consider certain areas of the aircraft for the lessor.
This information and data is used to market the aircraft as it is part way into the lease and can be used to get new customers lined up for the aircraft when it will be available at the end of the lease period.
Some of the documents we might want to review will include the following:
Aircraft Monthly & Yearly Utilisation and Aircraft Log Book – it allows us to know how the aircraft is being operated and what the utilisation is over time along then with the airframe Total Flight Hours & Flight Cycles
It can be worth noting the importance of the current Airworthiness Directive (AD) compliance status listing (Airframe / Appliance / Gear). Remember that the engines installed might not be the title engines. Along with this we would also consider the Service Bulletin (SB) compliance status listing along with any Alterations/Modifications and STC incorporation listing.
The STC listing can be important as it might cause issues in the future if an STC is not approved in a certain area.
The structural repair mapping can be a good topic for a review and we can review this in comparison to the aircraft.
We would also look at the current deferred items, watch items, and reduced inspections. The watch items and reduced inspections are of interest as they might not be compliant with lease return conditions.
Follow us and we will look further into the mid lease/midterm review and remaining considerations.
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