Leasing attracts and scares…

In 1993, when it ceased to exist a single Aeroflot, the Russian passenger aircraft fleet consisted 4670 aircraft (26% of world fleet). Since then, every year charged several hundred aircraft, and “come” from domestic producers of a few units. So, if in 1992, the Russian airlines have acquired the 83 plane, then three years later – only 22. In 1997, according to the FAS, was charged 485 aircraft and received a total of 4 aircraft and 8 helicopters. Experts FAS believe that between 1998 and 2005 in civil aviation of the Russian Federation will be charged only 418-haul aircraft. With more than 70% remaining closer to the limit of their resource.

But as they say, there would be no happiness, Yes the misfortune has helped – passenger traffic in Russia since the early nineties has steadily decreased and now is less than a quarter of the former. Accordingly, the carriers still have too Park, which, however, due to moral and physical aging are not able to compete for efficient use with modern designs. In addition, increasingly strict requirements for technical equipment of the aircraft in Europe and the United States are deprived of existing domestic aircraft market access in transport in these countries.

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The need for renewal, thus, fairly obvious. Before few creditworthy Russian airlines, the question arose: what to rely on cheaper and more familiar, but less profitable and troublesome to operate domestic aircraft or significantly more expensive but much more effective foreign.

Many of the leading airlines of Russia and the CIS have chosen the second path. And the main argument in their choice, apparently, was not a question of prestige and not even a thorough economic calculations. First, for companies relying on international transport, alternatives to Western ships just not – outdated Russian models, they will be uncompetitive. And secondly, attracted by the fact that to obtain Western aircraft there is spent years a flexible mechanism – without the bulk of a lump sum payment, with tax incentives and the opportunity to make adjustments in the course of the transaction.

In operational leasing, in a typical case, the airline must prepare for the following expenses:

1. The rate of leasing. In the case of “dry” leasing is a fixed amount per calendar month that does not depend on the actual flight of the aircraft during this period. The average values of the rates of leasing, depending on the type of aircraft and year of manufacture can be learned from books.

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2. A guarantee Deposit. Usually the lessor requests to be transferred to his account funds in the amount of three-month rate of lease prior to delivery of the aircraft. The Deposit will be returned in the form of credits of payments for the last months of the lease or is used to cover part of the cost of the lessor in the event of early termination of the contract by fault of the airline.

3. Expenses for training flight and technical personnel. Training is carried out in one of the certified local aviation authorities and accepted by lessor, which shall be certified and Federal aviation service of Russia. On average, the airline is preparing three flight crew on the aircraft.

4. Insurance. The lessee insures the plane agreed with the lessor the insurance company for the entire term of the lease for the full cost plus about 10% for the additional costs associated with obtaining insurance.

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5. The cost of maintenance. Lingually the plane in full to undergo maintenance in accordance with the regulations of the manufacturer in certified centers. A prerequisite for Russian companies is that these centres should be certified and FAS. The cost of the maintenance contract is based on a fixed rate per flying hour and cover all types of maintenance and planned repair of aircraft and engines. Part received for maintenance funds will eventually fall to the lessor and deposited in the account are assigned to specific aircraft. This allows the leasing company to produce even expensive “heavy” form of fixation, rather than shifting the costs of a particular lessee.

The rate of maintenance costs does not cover the cost of unplanned repairs (engine damage through foreign objects, failure of individual systems and components, etc.). Some of these expenses may be covered by insurance. Naturally, the “older” aircraft, the greater the likelihood of such failures.

6. Domestic customs duties and taxes. The stone, which broke the fragile dreams of many Russian airlines.

AVIAV