IATA Aircraft Lease Guidance

Redelivery
the redelivery of the Aircraft pursuant to the Redelivery Inspection and Acceptance Protocol with the
goal of achieving the Project Objective.
Lessor and Lessee will empower its Project Manager to make technical and commercial decisions on
its behalf in connection with the redelivery of the Aircraft to Lessor pursuant to the Redelivery
Inspection and Acceptance Protocol, recognising that certain decisions may need to be
communicated or escalated to/from the respective commercial management and/or technical teams
for resolution.
2.3 Lessor and Lessee Responsibilities
a) In order to meet the Project Objective, each of Lessee and Lessor will make commercially
reasonable efforts to:
(i) ensure that its Project Manager is able to devote sufficient time and effort to the redelivery of
the Aircraft so that its principal obligations in respect thereof are satisfied and to address
technical and commercial issues as they arise during the redelivery process in a manner
consistent with the goal of achieving the Project Objective and;
(ii) ensure that, as far as possible, the role of the Project Manager is filled at all times.
b) Application to Next Operator
(i) Lessee recognises that Lessor may wish the next operator or a prospective purchaser of the
Aircraft to participate in the redelivery process to facilitate aircraft transfer. Lessee agrees to
such participation of the next operator or such purchaser provided that as between Lessee
and Lessor:
2.4 Project Plan
a. Lessor will be responsible for the acts and omissions of the next operator or such
purchaser and;
b. the participation of the next operator or such purchaser in the redelivery process will not
affect the obligations of Lessor to perform its required actions pursuant to the Redelivery
Inspection and Acceptance Protocol to facilitate achieving the Project Objective.
a) Lessor and Lessee acknowledge that information and schedule dates are available at different
stages in the redelivery process, so the Project Plan will be provided to Lessor by Lessee in three
stages:
(i) Stage 1 Project Plan. No later than (X) months before the end of the lease term, Lessee will
provide Lessor with a draft Project Plan detailing the locations, timeline and critical
milestones for the Aircraft redelivery process. The draft Project Plan will set forth:
a. a list of the significant redelivery process tasks such as the induction date of the Aircraft
for the redelivery check;
b. confirmation of any Engine replacements;
c. proposed schedule for Aircraft Documentation Review and Aircraft inspection by Lessor,
and;
d. a schedule for Lessor and Lessee engagement through meetings in person and/or
teleconferences. Each significant task will be assigned a schedule date (major
milestone) in the draft Project Plan.
4 th Edition 2017 65