IATA Aircraft Lease Guidance
Guidance Material for aircraft leasing Guidance Material for aircraft leasing
Guidance Material and Best Practices for Aircraft Leases3.1.4 Typical Delivery Conditions for Used Aircraft ........................................................................................................ 203.1.5 Legal Aspects for Delivery ................................................................................................................................................223.2 Aircraft Acceptance and Audits Process ......................................................................................................................... 233.2.1 Physical Acceptance .......................................................................................................................................................... 233.2.2 Delivery Schedule ................................................................................................................................................................ 243.2.3 Delivery Maintenance Check ......................................................................................................................................... 253.2.4 Records Acceptance .......................................................................................................................................................... 253.2.5 Demo Flight/Borescope .................................................................................................................................................... 273.2.6 Inspection ................................................................................................................................................................................ 293.2.7 Inspection Report ................................................................................................................................................................. 303.2.8 Certificate of Acceptance ................................................................................................................................................. 323.3 Transferability (Regulatory).................................................................................................................................................... 323.3.1 Registration ............................................................................................................................................................................. 333.3.2 Design Approval ................................................................................................................................................................... 333.3.3 Airworthiness Certification .............................................................................................................................................. 353.3.4 Continuing Airworthiness ................................................................................................................................................ 363.3.5 Additional Airworthiness ................................................................................................................................................... 373.3.6 Operational Requirements ............................................................................................................................................... 373.3.7 Airspace Requirements ..................................................................................................................................................... 383.3.8 Other Requirements ........................................................................................................................................................... 393.3.9 Cockpit Security.................................................................................................................................................................... 393.4 Bilaterals ........................................................................................................................................................................................... 41Summary ......................................................................................................................................................................................................... 41Section 4— Operations ............................................................................................................................................... 434.1 Alterations in Obligations ........................................................................................................................................................ 434.1.1 Cost Sharing Options ......................................................................................................................................................... 434.1.2 Maintenance Reserves: Payment and Claims ....................................................................................................... 444.2 Events of Default ......................................................................................................................................................................... 464.2.1 Non-payment ......................................................................................................................................................................... 464.2.2 Insurances ................................................................................................................................................................................ 474.2.3 Cross Default ........................................................................................................................................................................... 474.2.4 Bankruptcy, Insolvency and Similar Proceedings ............................................................................................... 484.2.5 Change of Ownership ........................................................................................................................................................ 484.2.6 Adverse Change ................................................................................................................................................................... 484.2.7 Other Important EoDs ....................................................................................................................................................... 494.3 Sale-and-Leaseback .................................................................................................................................................................. 49ii 4 th Edition 2017
Table of Contents4.4 Engine Power by the Hour Maintenance Agreements ............................................................................................. 504.4.1 Payment Options ................................................................................................................................................................... 514.4.2 Entry/Exit Options and Number of Shop Visits ..................................................................................................... 524.4.3 Flexibility in Work Scope ................................................................................................................................................... 534.4.4 Flexibility in Engine Removal Planning ...................................................................................................................... 534.5 Engine Substitution .................................................................................................................................................................... 554.6 Technical Records ....................................................................................................................................................................... 55Section 5— Redelivery ................................................................................................................................................ 565.1 Redelivery Conditions ................................................................................................................................................................ 565.2 Redelivery Process ...................................................................................................................................................................... 575.2.1 Initial Phase ............................................................................................................................................................................. 625.2.2 Pre-redelivery Phase ........................................................................................................................................................... 625.2.3 Redelivery Phase .................................................................................................................................................................. 625.2.4 Return Acceptance Certificate / Deregistration ................................................................................................... 635.2.5 General Recommendations ............................................................................................................................................. 635.2.6 Example “Redelivery Inspection and Acceptance Protocol” .......................................................................... 64References ............................................................................................................................................................. 72References in Annexes ............................................................................................................................................... 73Annex I: Example Physical Inspection .................................................................................................................... 75Annex II: Typical Redelivery Records ...................................................................................................................... 78Annex III: Typical Index of Delivery Book ............................................................................................................... 85Annex IV: Engine Documentation Checklist .......................................................................................................... 87Annex V: Structural Repair File Guidelines ........................................................................................................... 881. Introduction .................................................................................................................................................................................... 882. Regulatory Basis ........................................................................................................................................................................... 882.1 EASA ........................................................................................................................................................................................... 882.2 FAA ............................................................................................................................................................................................... 912.3 EU-US Bilateral ....................................................................................................................................................................... 913. Repair File Overview ................................................................................................................................................................... 913.1 Setup ........................................................................................................................................................................................... 923.2 Pitfalls ......................................................................................................................................................................................... 934. Definitions ........................................................................................................................................................................................ 944.1 Airbus Repair Definitions .................................................................................................................................................. 944.2 Boeing Repair Definitions ................................................................................................................................................. 944.3 FAA Repair Definitions ....................................................................................................................................................... 954.4 EASA Repair Definitions.................................................................................................................................................... 954 th Edition 2017 iii
- Page 1 and 2: Guidance Material and BestPractices
- Page 3: Table of ContentsList of Figures ..
- Page 7 and 8: Table of ContentsAnnex X: LLP Back-
- Page 9 and 10: List of FiguresFigure 1. Document S
- Page 11 and 12: List of TablesTable 1. Different Ty
- Page 13 and 14: AbbreviationsACACMIADAIRAMCAMMAMOCA
- Page 15 and 16: AbbreviationsIPCLDNDLLPLOCLOILOPALR
- Page 17 and 18: ScopeIATA’s ‘Guidance Material
- Page 19 and 20: IntroductionIATA recommends a proce
- Page 21 and 22: Section 1—Background1Background2P
- Page 23 and 24: Backgrounddetermined period. As a r
- Page 25 and 26: Backgroundthe repair is within SRM
- Page 27 and 28: Pre-Deliveryin certain circumstance
- Page 29 and 30: Pre-Deliverylimit, however it will
- Page 31 and 32: Pre-DeliveryThe net lease is often
- Page 33 and 34: Pre-Delivery●●Fixed costFlexibl
- Page 35 and 36: Pre-Deliveryreserves rates depends
- Page 37 and 38: Pre-DeliveryAs of July 2015, sixty-
- Page 39 and 40: Deliveryredelivery conditions of th
- Page 41 and 42: DeliveryOther items, such as wheels
- Page 43 and 44: Deliverymodification and without an
- Page 45 and 46: Deliveryand registration process in
- Page 47 and 48: Deliveryimportant, as the continuou
- Page 49 and 50: Delivery3.2.6 InspectionDuring the
- Page 51 and 52: DeliveryooooGear TSN / CSN at Overh
- Page 53 and 54: Deliveryminimum standards set by IC
Guidance Material and Best Practices for Aircraft Leases
3.1.4 Typical Delivery Conditions for Used Aircraft ........................................................................................................ 20
3.1.5 Legal Aspects for Delivery ................................................................................................................................................22
3.2 Aircraft Acceptance and Audits Process ......................................................................................................................... 23
3.2.1 Physical Acceptance .......................................................................................................................................................... 23
3.2.2 Delivery Schedule ................................................................................................................................................................ 24
3.2.3 Delivery Maintenance Check ......................................................................................................................................... 25
3.2.4 Records Acceptance .......................................................................................................................................................... 25
3.2.5 Demo Flight/Borescope .................................................................................................................................................... 27
3.2.6 Inspection ................................................................................................................................................................................ 29
3.2.7 Inspection Report ................................................................................................................................................................. 30
3.2.8 Certificate of Acceptance ................................................................................................................................................. 32
3.3 Transferability (Regulatory).................................................................................................................................................... 32
3.3.1 Registration ............................................................................................................................................................................. 33
3.3.2 Design Approval ................................................................................................................................................................... 33
3.3.3 Airworthiness Certification .............................................................................................................................................. 35
3.3.4 Continuing Airworthiness ................................................................................................................................................ 36
3.3.5 Additional Airworthiness ................................................................................................................................................... 37
3.3.6 Operational Requirements ............................................................................................................................................... 37
3.3.7 Airspace Requirements ..................................................................................................................................................... 38
3.3.8 Other Requirements ........................................................................................................................................................... 39
3.3.9 Cockpit Security.................................................................................................................................................................... 39
3.4 Bilaterals ........................................................................................................................................................................................... 41
Summary ......................................................................................................................................................................................................... 41
Section 4— Operations ............................................................................................................................................... 43
4.1 Alterations in Obligations ........................................................................................................................................................ 43
4.1.1 Cost Sharing Options ......................................................................................................................................................... 43
4.1.2 Maintenance Reserves: Payment and Claims ....................................................................................................... 44
4.2 Events of Default ......................................................................................................................................................................... 46
4.2.1 Non-payment ......................................................................................................................................................................... 46
4.2.2 Insurances ................................................................................................................................................................................ 47
4.2.3 Cross Default ........................................................................................................................................................................... 47
4.2.4 Bankruptcy, Insolvency and Similar Proceedings ............................................................................................... 48
4.2.5 Change of Ownership ........................................................................................................................................................ 48
4.2.6 Adverse Change ................................................................................................................................................................... 48
4.2.7 Other Important EoDs ....................................................................................................................................................... 49
4.3 Sale-and-Leaseback .................................................................................................................................................................. 49
ii 4 th Edition 2017
Change language