As you would expect, aircraft and engines that are well looked after, maintained and inspected regularly will inherently hold their value more than those that are less well managed. To protect and maximise the value of an aircraft or engine, inspections are an essential element of asset management. A thorough inspection should always include an examination of the metal and its associated technical records, since it is the combination of the physical condition and historical records that create the overall value.
From our experience, an aircraft or engine with no valid or accurate historical records is effectively worthless. The cost of recovering the value depends on the age of the aircraft and the degree of missing documents, but in an extreme example it could be tens of millions of dollars where repairs and heavy checks may require repeating to rebuild the required documentation.
We wanted to share our knowledge with you, so this guide presents our opinion on how and why inspections are vital and at which points during the life of a lease they are indispensable.
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