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For shared aircraft that are part of a large management company fleet, owners have access to the full fleet of planes and may upgrade or downgrade for specific flights. [1] Ownership contracts are typically for five years. At the end of the contract, the owner can sell their share either back to the company or to another owner waiting for a ...
Air Lease Corporation (ALC) is an American aircraft leasing company founded in 2010 and headed by Steven F. Udvar-Házy. [2] Air Lease purchases new commercial aircraft through direct orders from Boeing, Airbus, Embraer and ATR, and leases them to its airline customers worldwide through specialized aircraft leasing and financing.
Father and son team Leslie Gonda and Louis L. Gonda founded ILFC in 1973 along with Steven F. Udvar-Házy. [citation needed] The company was acquired by international insurance giant American International Group (AIG) in 1990, although the unit was still run by Udvar-Hazy until he retired in February 2010, when he was succeeded by vice-chairman Alan Lund.
A dry lease is a leasing arrangement whereby an aircraft financing entity (lessor), such as AerCap or Air Lease Corporation, provides an aircraft without crew, ground staff, etc. Dry lease is typically used by leasing companies and banks, requiring the lessee to put the aircraft on its own air operator's certificate (AOC) and provide aircraft ...
Conversely, the aircraft's residual value at the end of the lease is an important consideration for the owner. [8] The owner may require that the aircraft be returned in the same maintenance condition (e.g. post-C check) as it was delivered, so as to expedite turnaround to the next operator.
AerCap acquired the company from GE Capital on November 1, 2021. [1] GECAS was the largest commercial airline leasing/financing company in the world by number of aircraft. [2] The company offered many aviation finance services, including aircraft leasing, aircraft lending, engine leasing, asset management, and aircraft consulting.
A "sale/leaseback" or "sale and leaseback" is a transaction in which the owner of a property sells an asset, typically real estate, [4] and then leases it back from the buyer. In this way the transaction functions as a loan, with payments taking the form of rent.
In April 2017, Avolon completed the acquisition of the CIT Group aircraft leasing business, creating the world's third-largest aircraft leasing company. The combined fleet totaled 850 aircraft, with a value exceeding $43 billion as of March 31, 2017. [6] In May 2017, Avolon delivered the world's first Boeing 737 MAX 8 aircraft to Malindo Air. [21]
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