Aircraft Lease Terms Legal Definitions – IFRS 16 – Lessee’s Covenants, Cape Town Convention, Quiet Enjoyment

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…

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Considering a Painful Aviation Lease Lesson & Steps to Protect the Lessee

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…

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Aviation Engine Maintenance Reserve Contract Management

Sofema Aviation Services www.sassofia.com looks at key drivers related to Aircraft Maintenance Reserves and what they mean for Engine Maintenance. The Role of Maintenance Reserves The essential purpose of Maintenance Reserves is to calculate the cost of consumption of applicable parts or components typically calculated on a per hour basis Example of Maintenance Reserve Calculation…

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Aircraft Maintenance Reserves as Part of a Lease Contract

A briefing document presented by Steven Bentley MD of Sofema Aviation Services. The purpose of this document is to raise an understanding of the methodology associated with the control and management of Aircraft Maintenance Reserves In order to protect the position of the Lessor in respect of the Aircraft, Engine or Propeller to comply with…

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