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Legal Aspects Review by Sofema Aviation Services www.sassofia.com How will IFRS 16 Leases Affect Aviation Companies? Leases previously treated as operating leases will generally now be an on-balance sheet. A lessee will recognise a right-of-use asset and a lease liability, and consequently depreciation and interest expense in profit or loss. The new Standard, in addition…

Presented by Steve Bentley CEO of Sofema Aviation Services www.sassofia.com Introduction – Purpose – To implement Enhanced Competence Assessment Program Background In order to establish a process to ensure effective management of competence relevant to all affected persons within the business. This means we need to identify – who can assess – how they will…

Presented by Steve Bentley – CEO of Sofema Aviation Services www.sassofia.com Forthcoming Training Notification Managing Aircraft Lease Agreements and Maintenance Reserves – 3 Days – Bangkok, Thailand November 25th to November 27th 2019 Introduction The Lease Agreement is an onerous legal document which carries significant obligations, the term buyer beware should be understood at the…

Sofema Aviation Services www.sassofia.com takes a look at what SMS related activities should be addressed in the context of the Organisational 145 SMS. Safety Communication (AMC1 145.A.200(a)(4) Management system) Communication both Vertically and Horizontally throughout the business is very important in the context of delivering an effective Aviation Safety Management System (SMS) With the introduction of SMS within…