AMS Aircraft Services Limited (AMS) and EastMerchant Capital GmbH (EastMerchant) have announced the placement of a Boeing 747-400F aircraft with China Airlines as lessor and ASL Aviation Holdings as lessee.
On the deal, AMS and EastMerchant acted as joint remarketing agent for China Airlines, the national airline of Taiwan and a member of the SkyTeam alliance.
Mike Skinner, CEO at AMS, said: “This operating lease may not be a gamechanger but I think it can be justifiably looked upon as a “groundbreaker.”
The Aircraft had been in storage, for over seven years, prior to the start of bringing the aircraft back to airworthiness. The entry into service maintenance tasks required included airframe D check plus lower checks, four CF6-80 engine performance restorations, all landing gears overhauled, updating of all applicable airworthiness directives, and the performance of all modifications required to enable the aircraft to be registered and operated in an EASA jurisdiction.
Two other unusual features of the lease, the company says, were both lessor and lessee contributed to the significant EIS costs with the lessee’s contribution being reflected in the lease rentals and the maintenance provisions and costs reflect the fact that the lessor has its own engine shop.