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AYR » Topics » If our lessees fail to comply with government regulations regarding aircraft maintenance, we could be subject to costs that could adversely affect our cash position and our business.These excerpts taken from the AYR 10-K filed Mar 2, 2009. If our
lessees fail to comply with government regulations regarding
aircraft maintenance, we could be subject to costs that could
adversely affect our cash position and our
business.
In addition to the general aviation authority regulations and
requirements regarding maintenance of aircraft, our aircraft may
be subject to further maintenance requirements imposed by
airworthiness directives, or Airworthiness Directives, issued by
aviation authorities. Airworthiness Directives typically set
forth particular special maintenance actions or modifications to
certain aircraft types or models that the owners or operators of
aircraft must implement.
Each lessee generally is responsible for complying with all of
the Airworthiness Directives with respect to the leased aircraft
and is required to maintain the aircraft’s airworthiness.
However, if a lessee fails to satisfy its obligations, or we
have undertaken some obligations as to airworthiness under a
lease, we may be required to bear (or, to the extent required
under the relevant lease, to share) the cost of any
Airworthiness Directives compliance. If any of our aircraft are
not subject to a lease, we would be required to bear the entire
cost of compliance. Such payments would adversely affect our
cash position and our business generally.
If our lessees fail to comply with government regulations regarding aircraft maintenance, we could be subject to costs that could adversely affect our cash position and our business. In addition to the general aviation authority regulations and requirements regarding maintenance of aircraft, our aircraft may be subject to further maintenance requirements imposed by airworthiness directives, or Airworthiness Directives, issued by aviation authorities. Airworthiness Directives typically set forth particular special maintenance actions or modifications to certain aircraft types or models that the owners or operators of aircraft must implement. Each lessee generally is responsible for complying with all of the Airworthiness Directives with respect to the leased aircraft and is required to maintain the aircraft’s airworthiness. However, if a lessee fails to satisfy its obligations, or we have undertaken some obligations as to airworthiness under a lease, we may be required to bear (or, to the extent required under the relevant lease, to share) the cost of any Airworthiness Directives compliance. If any of our aircraft are not subject to a lease, we would be required to bear the entire cost of compliance. Such payments would adversely affect our cash position and our business generally. This excerpt taken from the AYR 10-Q filed Nov 17, 2008. If our
lessees fail to comply with government regulations regarding
aircraft maintenance, we could be subject to costs that could
adversely affect our cash position and our
business.
In addition to the general aviation authority regulations and
requirements regarding maintenance of aircraft, our aircraft may
be subject to further maintenance requirements imposed by
airworthiness directives, or Airworthiness Directives, issued by
aviation authorities. Airworthiness Directives typically set
forth particular special maintenance actions or modifications to
certain aircraft types or models that the owners or operators of
aircraft must implement.
Each lessee generally is responsible for complying with all of
the Airworthiness Directives with respect to the leased aircraft
and is required to maintain the aircraft’s airworthiness.
However, if a lessee fails to satisfy its obligations, or we
have undertaken some obligations as to airworthiness under a
lease, we may be required to bear (or, to the extent required
under the relevant lease, to share) the cost of any
Airworthiness Directives compliance. If any of our aircraft are
not subject to a lease, we would be required to bear the entire
cost of compliance. Such payments would adversely affect our
cash position and our business generally.
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