Research On The Financial Impact Of The New Lease Guidelines On Airlines ——Takes NF Airlines As An Example

As an important means of enterprise financing,leasing took the lead to rise in the United States after World War II.With the continuous influence of western developed countries,modern leasing services have penetrated into all walks of life.However,due to the continuous development and growth of the leasing industry,the leasing business is becoming more complex,and the relevant provisions and accounting methods in the old leasing standards are gradually divorced from the actual transaction situation.Thus,the IASB enacted the IFRS16 in 2016 and declared it effective from January 1,2019.In line with international standards,China’s Ministry of Finance launched CAS21 at the end of2018 and implemented it simultaneously with IFRS16.Due to the characteristics of the high asset-liability ratio of the air transportation industry,the leasing business that can be flexibly financed has quickly become the first choice for airlines to introduce aircraft.According to statistics,about 60% of the existing aircraft in the service of Chinese airlines are obtained through leasing.Therefore,the enactment of the new lease guidelines will have a huge impact on the air transport industry.This paper focuses around CAS21,It expounds the impact of the old and new lease criteria and the way to deal with the negative impact of the new lease criteria,Select the NF airlines listed both at home and abroad,Taking its publicly disclosed financial statement data for 2018 implementing the old lease guidelines,2019 and 2020 implementing the new lease guidelines as important data for the study,Detailed analysis of the introduction and implementation of the new leasing standards,Under the concept of "use right assets",No longer distinguish the lessee’s accounting treatment mode of operating lease and financial leasing on the impact of NF Airlines’ s financial statements,financial indicators,financial risks and financial decisions,According to the actual operation situation of NF Airlines,Make corresponding suggestions.The main conclusions of this paper are as follows:（1）on the whole,the new leasing standards fully disclose the real assets and liabilities of the company,reveal the transaction situation of leasing business,and facilitate information users to make scientific and reasonable economic decisions.But at the same time,it also exposes the potential operating risks and financial risks of enterprises,the rising asset-debt ratio aggravates the financing difficulties,and the rise of foreign exchange risks and interest rate risks also causes a certain degree of adverse impact on enterprises in the connection period of the old and new leasing standards.Enterprises should also reasonably plan the proportion of different lease contracts,and carefully choose the introduction of aircraft.（2）Application of the new lease standards,Will have a significant impact on NF Airlines’ balance sheet,The internalization of the table of operating lease assets leads to a sharp increase in the assets and liabilities of enterprises,But the rise of liabilities is greater than that of assets,Then,the asset-liability ratio of enterprises increases,Affect the solvency index of enterprises;The income statement shows a "low before and high after" trend,With the passage of time,The new lease rules will have less and less impact on the income statement;No changes occur in the total cash flow occurred,Because of the change in the cash flow structure,Improved the structure of the cash flow,Enhanced the company’s ability to continue operating,Make the enterprise financial structure more flexible;More complete and detailed note disclosure improves the authenticity and accuracy of the quality of accounting information.（3）After the implementation of the new leasing standards,the financial risks of NF Airlines were expanded,which significantly weakened the company’s solvency indicators and profitability indicators.However,NF Airlines can enhance its business ability and balance the adverse effects by improving the leasing business control system,expanding the aircraft introduction mode,optimizing the leasing contract and adjusting the asset management mode.