The Study Of Airplane Leasehold Mode On Aviation Company

With the rapid step of reform, civil aviation of China became the bottle n eck that restricted national economic developments in 1980's. To fill the requir ement of aviation transportation market, civil aviation purchase lots of large and middle scale airplanes by using of financing leasehold and management lease hold. Over 30 years, aviation transportation developed rapidly. At present, the aviation passengers of China ranked 2^nd in the world. The entire transportation index keeps ahead. At present, the number of aviation companies is still much more but the scale is so small. One side, it leads the cost so high cannot acquire the benefit. Another side, the companies run into the vicious competition and make against to the industry development. The more important is they can not compete with overseas aviation companies. With the recombination of Air of China Company, South of China Company and East of China Company recently, the scale is enlarged than before. But except the rate of asset debt and outstanding achievement of Air of China Company improved after it lists in the market, the rate of asset debt of South of China Company and East of China Company rose highly after the development. Meanwhile the funds become the largest obstacle to restrict the development of companies.The paper according to the lacking fund restriction of development and high cost problem, analysis the theories of capital structure and leasehold and cost character. It uses the suitable financing leasehold methods in different situati on to work out the problem of deficient funds of aviation companies. It can reduce the leasehold cost to assure the development speed. With the actuality and trend of civil airplane leasehold industry, the paper still discuss the feasibility of build the civil airplane leasehold companies and assure the funds demand of companies development. It use the competition to reduce the leasehold cost and break the form that overseas companies occupied the Chinese aviation leasehold market to promote the companies development with the better environment.The paper uses the airplane leasehold of Shandong Airline as sample to put forward the airplane leasehold method to fit the high debt rate and obvious capital restriction. It analysis the selection of introduction into airplane with the theories of capital structure, cost character and leasehold list the main reasonand infection of selection. It still analysis the influence of different leasehold form to aviation enterprises cost structure and capital structure. From the valuecalculation to analysis the different form, it put forward the idea to reduce the leasehold cost. By contrast the strength and worse of overseas companies and civil companies, it takes the long term development strategy to build and share civil airplane leasehold company that suitable the civil aviation companies. It still put forward the strategy and trend in the future for the airplane leaseho Id industry of civil aviation companies.