A Study On The Financial Impact Of Financial Leasing Mode On China Southern Airlines

With the rapid development of China’s civil aviation market,China Southern Airlines’ demand for transport aircraft is increasing day by day.In order to further expand its market share,China Southern Airlines actively introduced aircraft and expanded its fleet.At present,the market value of an Airbus A plane is about $150 million,so the high price of such A large financial pressure on China Southern Airlines.In recent years,the introduction of financial leasing aircraft,as a means of financing,has been highly favored by airlines.From the perspective of China Southern Airlines,this paper mainly introduces the concept and characteristics of the domestic and foreign mainstream aircraft introduction mode--financial leasing SPV mode.It compares and analyzes the tax preferential measures and depreciation policies of China Southern Airlines in introducing aircraft through traditional financial leasing mode,overseas Irish financial leasing SPV mode and domestic Tianjin Dongjiang port financial leasing SPV mode.The paper discusses the influence of different aircraft financial leasing modes on the financial decision-making factors such as cash flow,capital structure,depreciation policy,interest rate risk and exchange rate risk of China Southern Airlines.The net present value model of cash flow expenditure of China Southern Airlines under aircraft finance leasing SPV mode is established.The modified Convexity financial leasing risk analysis and control research model calculates and analyzes the influence of interest rate changes on the value of financial leasing aircraft.Through the above analysis,for the plane of southern airlines to choose the best scheme provides advice,and in the process of introduction of aircraft financing lease SPV mode of southern airlines cash flow,capital structure,depreciation policy,the influence of financial risk,etc,puts forward some countermeasures for the prevention of introduced so that the optimal decision,And put forward some countermeasures to improve the development of financial leasing in our country.