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AYR » Topics » Failure to register aircraft in certain jurisdictions could result in adverse effects and penalties which could materially affect our business.These excerpts taken from the AYR 10-K filed Mar 2, 2009. Failure
to register aircraft in certain jurisdictions could result in
adverse effects and penalties which could materially affect our
business.
Pursuant to our existing leases, all of our aircraft are
required to be duly registered at all times with the appropriate
governmental civil aviation authority. Generally, in
jurisdictions outside the United States, failure to maintain the
registration of any aircraft that is on-lease would be a default
under the applicable lease, entitling us to exercise our rights
and remedies thereunder if enforceable under applicable law. If
an aircraft were to be operated without a valid registration,
the lessee operator or, in some cases, the owner or lessor might
be subject to penalties, which could constitute or result in an
Aircraft Lien being placed on such aircraft. Lack of
registration could have other adverse effects, including the
inability to operate the aircraft and loss of insurance
coverage, which in turn could have a material adverse effect on
our business.
Failure to register aircraft in certain jurisdictions could result in adverse effects and penalties which could materially affect our business. Pursuant to our existing leases, all of our aircraft are required to be duly registered at all times with the appropriate governmental civil aviation authority. Generally, in jurisdictions outside the United States, failure to maintain the registration of any aircraft that is on-lease would be a default under the applicable lease, entitling us to exercise our rights and remedies thereunder if enforceable under applicable law. If an aircraft were to be operated without a valid registration, the lessee operator or, in some cases, the owner or lessor might be subject to penalties, which could constitute or result in an Aircraft Lien being placed on such aircraft. Lack of registration could have other adverse effects, including the inability to operate the aircraft and loss of insurance coverage, which in turn could have a material adverse effect on our business. This excerpt taken from the AYR 10-Q filed Nov 17, 2008. Failure
to register aircraft in certain jurisdictions could result in
adverse effects and penalties which could materially affect our
business.
Pursuant to our existing leases, all of our aircraft are
required to be duly registered at all times with the appropriate
governmental civil aviation authority. Generally, in
jurisdictions outside the United States, failure to maintain the
registration of any aircraft that is on-lease would be a default
under the applicable lease, entitling us to exercise our rights
and remedies thereunder if enforceable under applicable law. If
an aircraft were to be operated without a valid registration,
the lessee operator or, in some cases, the owner or lessor might
be subject to penalties, which could constitute or result in an
Aircraft Lien being placed on such aircraft. Lack of
registration could have other adverse effects, including the
inability to operate the aircraft and loss of insurance
coverage, which in turn could have a material adverse effect on
our business.
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