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AYR » Topics » Failure to pay certain potential additional operating costs could result in the grounding or arrest of our aircraft and prevent the re-lease, sale or other use of our aircraft, which would negatively affect our financial condition and results of operation

These excerpts taken from the AYR 10-K filed Mar 2, 2009.
Failure to pay certain potential additional operating costs could result in the grounding or arrest of our aircraft and prevent the re-lease, sale or other use of our aircraft, which would negatively affect our financial condition and results of operations.
 
As in the case of maintenance costs, we may incur other operational costs upon a lessee default or where the terms of the lease require us to pay a portion of those costs. Such costs include:
 
  •   the costs of casualty, liability and political risk insurance and the liability costs or losses when insurance coverage has not been or cannot be obtained as required, or is insufficient in amount or scope;
 
  •   the costs of licensing, exporting or importing an aircraft, airport charges, customs duties, air navigation charges, landing fees and similar governmental or quasi-governmental impositions, which can be substantial; and
 
  •   penalties and costs associated with the failure of lessees to keep the aircraft registered under all appropriate local requirements or obtain required governmental licenses, consents and approvals.
 
The failure to pay certain of these costs can result in liens on the aircraft and the failure to register the aircraft can result in a loss of insurance. These matters could result in the grounding or arrest of the aircraft and prevent the re-lease, sale or other use of the aircraft until the problem is cured, which would negatively affect our financial condition and results of operations.


21

Table of Contents

Failure
to pay certain potential additional operating costs could result
in the grounding or arrest of our aircraft and prevent the
re-lease, sale or other use of our aircraft, which would
negatively affect our financial condition and results of
operations.


 



As in the case of maintenance costs, we may incur other
operational costs upon a lessee default or where the terms of
the lease require us to pay a portion of those costs. Such costs
include:


 




































  •  
the costs of casualty, liability and political risk insurance
and the liability costs or losses when insurance coverage has
not been or cannot be obtained as required, or is insufficient
in amount or scope;
 
  •  
the costs of licensing, exporting or importing an aircraft,
airport charges, customs duties, air navigation charges, landing
fees and similar governmental or quasi-governmental impositions,
which can be substantial; and
 
  •  
penalties and costs associated with the failure of lessees to
keep the aircraft registered under all appropriate local
requirements or obtain required governmental licenses, consents
and approvals.


 



The failure to pay certain of these costs can result in liens on
the aircraft and the failure to register the aircraft can result
in a loss of insurance. These matters could result in the
grounding or arrest of the aircraft and prevent the re-lease,
sale or other use of the aircraft until the problem is cured,
which would negatively affect our financial condition and
results of operations.





21




Table of Contents







This excerpt taken from the AYR 10-Q filed Nov 17, 2008.
Failure to pay certain potential additional operating costs could result in the grounding or arrest of our aircraft and prevent the re-lease, sale or other use of our aircraft, which would negatively affect our financial condition and results of operations.
 
As in the case of maintenance costs, we may incur other operational costs upon a lessee default or where the terms of the lease require us to pay a portion of those costs. Such costs include:
 
  •   the costs of casualty, liability and political risk insurance and the liability costs or losses when insurance coverage has not been or cannot be obtained as required, or is insufficient in amount or scope;
 
  •   the costs of licensing, exporting or importing an aircraft, airport charges, customs duties, air navigation charges, landing fees and similar governmental or quasi-governmental impositions, which can be substantial; and
 
  •   penalties and costs associated with the failure of lessees to keep the aircraft registered under all appropriate local requirements or obtain required governmental licenses, consents and approvals.
 
The failure to pay certain of these costs can result in liens on the aircraft and the failure to register the aircraft can result in a loss of insurance. These matters could result in the grounding or arrest of the aircraft and prevent the re-lease, sale or other use of the aircraft until the problem is cured, which would negatively affect our financial condition and results of operations.
 

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 2, 2009
10-Q
Nov 17, 2008

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