Overview

"This book is written particularly from the airline's perspective, providing explanations for the many complexities of an aircraft operating lease. The author challenges some established practices that impose huge financial obligations on airlines and offers a more equitable alternative approach that will save airlines millions of dollars. The book dissects clause by clause a sample aircraft operating lease agreement to explain the legal principles underlining certain terms and the practical, commercial and legal reasons for their inclusion. Some of the areas covered include: Why an operating lease should not be a net or a non-cancellable lease; Whether the delivery condition should be a warranty or a condition precedent; Ramifications of accepting the aircraft in ""as is, where is"" condition; Why the unutilised maintenance reserve deposit should be returnable to the airline; Power-by-the-hour and aviation maintenance reserve bonds as alternatives to maintenance reserve cash payment; AD Cost Sharing; Perfection of aircraft security interest and the Cape Town Convention; Legality of gross-up clauses; This compelling publication demystifies the complex aircraft operating lease. It is designed to inspire, guide and provide resource material for those new to the subject and help build the capacity to negotiate aircraft operating leases. For seasoned professionals, the book offers a definitive one-volume practical reference material on the subject."

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9789787839225

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Andy Oji is a Legal Practitioner and a Partner at Cosmopolitan Law Services (COSMOLAWS), a leading Aviation Law and Commercial Arbitration Practice based in Lagos, Nigeria, where he focuses on aircraft leasing and financing, aviation catastrophe work, complex multi-jurisdictional claims arising from aircraft accident and advising airlines on capital, aircraft type and general risk requirement planning to ensure effective, efficient and profitable deployment of critical aircraft assets. He has been engaged in Aviation and Regulatory Law Practice for over three decades and has been involved in a number of major world aviation accident claims and investigations. He advises Governments and individual Airlines on aviation policy, traffic rights and strategic alliances.Mr. Oji was the former General Counsel and Chief Risk and Regulatory Compliance Officer at First Nation Airways, and prior to this, he was the Legal Adviser at Bellview Airlines.

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