Leasing and aircraft. We expand on the shelves.

Evaluating the effectiveness of the lease, taking into account the state of the financial market

The results of an annual rate of ROI 12-15%, the operation of aircraft leases, as a means of investment funds, is one of the most profitable segments. Commercial passenger aircraft, taking into account the application of the first and second cycles, the most suited to investors and lenders because of more stable conditions, minimum risk and produce consistent profits.
Meanwhile, cargo aircraft operations are usually carried out in the second embodiment, with the ROI of about 12%. Therefore, evaluation of the effectiveness of the operation of aircraft to be, carried out in view of understanding the dynamics of the aviation industry.

Leasing - form of financial services, a form of credit on the acquisition of fixed assets by enterprises or very expensive goods by individuals.

Financial analysis

The exact calculation of return on invested funds (ROI) should be based on individual performance indicators operation of the aircraft, its size and type. And the cost of some models of aircraft ranging from 48 million. Dollars (Boeing 737-800) to 210 million. Dollars (Airbus A380), as well as the annual rate of ROI, which is in the range of 3% to 15% respectively.

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Leasing and Aviation

The average debt load is between 70% to 85%, which causes cash cost investors up to 40 million. Dollars to Boeing 737-800, while the rest of the funds must be repaid according to the agreement between the parties. In some cases the level of security of transactions falls to 50-65%, as investors seek to reduce the risks of investment, due to the purchase of the aircraft were previously in service, or customers who have some financial difficulties.

An important role in determining the price of the transaction plays a residual value of the aircraft. In view of these specialized companies, the base cost of an aircraft is reduced by approximately 4-9% per year. Also should take into account depreciation expenses. Therefore, after 5 years of operation, the plane will cost about 70%, through the years 10 - 50%, 15 years - 35%, eventually through the years 25 residual value will be equal to 10%. There will be a write-off of fully depreciated cost with the ability to generate cash in the sale of spare parts during disassembly of the aircraft.
With the participation of leasing operations in the need to constantly monitor the status of aircraft of their technical condition and residual value. When the threshold of economic efficiency to make an urgent decision on the further operation of aircraft necks.

Changes in legislation

While the UN, the International Civil Aviation Organization (ICAO) support and promote the development of modern standards for regulating the operation of the air fleet. National and regional organizations continue to play an important role in creating conditions for the operation of aircraft. This applies, first of all, to commercial aircraft, their operation taking into account various legislative acts regulating the possibility of flying depending on the period of use of aircraft. For example, in China, India, Indonesia and Turkey, restrictions have been imposed on the import of commercial passenger and cargo aircraft with a service life of more than 10 and 15 years, while in other developing countries, aircraft older than 15-20 years are allowed to operate.

Leasing and Aviation

Another important factor to consider is the diverse support provided by enterprises of the local aviation industry and government authorities. A typical example is the decision of the Russian government in March of the year 2014, to abolish the tax on the import of certain aircraft models (Boeing 737, Airbus 320) for local carriers, which allowed them to cut costs by 40% (about 1 billion dollars). When carrying out the regulation, one should take into account not only the current legislation, but also the geopolitical situation in various countries of the world. There are many factors that affect the development of the aviation industry. The appropriate implementation of regulatory measures in combination with national and regional regulations, as well as close cooperation with local authorities and aviation management, helps minimize the impact of risks and maximize the effectiveness of work.

Operator selection

Since the operator is the main component in the operation and maintenance of the aircraft, the investor must carefully approach the choice of the operator, on whose performance the efficiency of aircraft operation, their servicing and repair depends. As soon as the aircraft is properly operated, it will save on unscheduled overhauls. Aircraft, if properly used and maintained after the end of the lease term, should have the maximum possible residual value, allowing to conclude a new lease on favorable terms. Therefore, before signing the lease agreement, the investor must carefully evaluate the operator's potential, its financial and operational capabilities.