Aircraft Leasing : Business Models and Investment Strategies

• Main Author: 曾翊宸
• Other Authors: 謝明華
• Format: Others
• Language: zh-TW
• Online Access: http://ndltd.ncl.edu.tw/handle/6z49s6

碩士 === 國立政治大學 === 經營管理碩士學程(EMBA) === 105 === According to the aviation industry forecast reported by Airbus(2016) and Boeing(2016), the demand for air travel will increase gradually. Subsequently, it may influence the demand for aircraft directly. Operating lease become a primary way for airlines to get planes. The features of it are that it requires less capital than direct purchase and finance lease, it can improve assets utilization, and there is no prepayment. Additionally, airlines expose less to the risk of residual asset value. Therefore, aircraft leasing plays an important role in the industry. The businesses involve all life cycle of aircrafts, such as purchase, finance, lease, sale, sub-lease and recycle. However, the aviation industry is a capital-intensive industry. Increase in aircraft demand means increase in capital demand. Seeking sources of capital become major purpose of aircraft leasing companies. This article introduces two ways to raise capital, and also provide investors with an excellent investment channels to enter the aviation industry. The first one is the aircraft leasing private equity fund. It can bring huge sums of money to companies and there would be experienced managers as advisors to enhance the efficiency of operations. It also eliminates the J-curve for investors. The second one is peer-to-business lending (P2B lending). It provides a relatively low cost of debt financing for companies, and provides investors who are interested in aircraft leasing industry a good credit, secured investment platform. In addition, it reduces the credit risk in P2P lending.