Effects Of Leasing Decision On The Financial Situation Of The Aviation Enterprise

In recent years,the development of the national economy and the improvement of national life have led to an increasing demand for air transport.In March 2015,the ND RC and other departments proposed to promote the "One Belt and One Road"construction,air transport industry has become an important part of the construction of"air Silk Road" strategy.China's air transport enterprises are faced with the task of expanding the fleet size and optimizing the fleet structure.However,the contradiction between the high value of aircraft and low profit margins urges the aviation enterprises exploring an appropriate way to build the fleet.China Southern Airlines owns the largest fleet of civil,and most of them were introduced through the way of leasing.Therefore,the paper mainly studies:Why China Southern Airlines aircraft prefers the way of leasing?What are the effects of leasing on the financial situation of China Southern Airlines?What is the most reasonable way for China Southern Airlines to introduce the aircraft?The difference between the previous research is that the existing research is they mostly focus on a single angle;this paper uses the method of case study.Analysis from the angle of industry factors,business and financing situation,the situation of the leasing industry and so on.The study found that:(1)China Southern Airlines prefers the way of leasing is mainly because the way of purchase requires a one-time payment of a large number of costs,but its endogenous,debt and equity financing capacity are difficult to meet the purchase needs(2)the development of new leasing modes such as SPV leasing mode in the bonded area makes it possible to obtain a large amount of tax concessions for aircraft leasing,which is one of the reasons for the increase in the proportion of aircraft leasing.The impact of the model on China Southern Finance is mainly to optimize the financial liquidity,adjust the capital structure,offset the income tax,the impact of different leasing methods are different.In short,the lease can improve China Southern's financial liquidity,reduce the cost of aircraft to use the integrated.The main innovations in this paper are as follows:(1)Analyze the internal causes of the introduction of the aircraft by using a large number of data analysis using the case analysis method;(2)Analyze the leasing system by combining the development of the leasing industry and the new leasing mode(3)to analyze the model and mode of the aircraft introduced by China Southern Airlines,and to explore the relationship between the characteristics of aircraft,the purpose of holding,the cost of operation and the way of introduction.The application of this article enlightenment:China Southern's total assets in China's three major flights in the smallest,operating income is only located in the second,the fleet size is the largest,mainly due to its leasing approach to the introduction of aircraft arrangements.In the context of increasing demand for air transport at home and abroad,China's aviation enterprises need to accelerate the expansion of its fleet size,China Southern Airlines leasing the introduction of aircraft for China's aviation enterprises to optimize the introduction of aircraft structure has a reference.