The Financial Impact Of Aircraft Leasing Mode On Airlines

With the economic globalization trend deepening,Chinese external relation is reinforcing.As the strategical pilot industry of China,and having the prominent characteristic of efficient,quick,safe and remote in composite transport system,the civil aviation industry plays the role as a bridge within the external relation.At present,the domestic airlines are exploring international routes actively and strengthening the corporation with members of airline alliances.Routes exploring and transport capability increasing are all root in the fleet size.With the transport capability growing,it's possible for airlines to strive for routes resource and grab the market.According to Boeing's correlating prediction,the domestic airlines may fund one trillion USD to purchase 6810 bran-new aircrafts in the next two decades.Thus,the total value of Chinese aviation market will exceeds one trillion USD,and become the world first.Chinese civil aviation industry is in the gold development period.As the airline's most important fixed assets,most aircrafts are need to introduce from aboard at present.There are three main ways to introduce the aircrafts:purchase,financing lease and operating lease.It certainly will occupy much capital,and the daily operation will have great difficulties,if airline purchases aircrafts only with accumulate funds by itself and loan.Meanwhile leased aircrafts will become airline's realistic choice for its high flexibility and multiple financing channels.The thesis analyses the characteristics of financing lease and operating lease,the leasing models that applied by the domestic airlines,the development of the domestic leasing market and the SPV leasing model that based on the bonded port areas and the bonded areas.In this thesis,the financial influences of the financing lease and operating lease have been studied.The influences on accounting subjects and financial indicators are the key points.Through the analysis of China southern airlines,the thesis is expected to provide a certain theory basis for the airlines how to choose the leasing model,which is aimed at improving the financial index.