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Hmm, so I dig an ancient topic out of its grave?
sami has pointed to this topic regarding to leased A/C condition, so here we go
I recently just got an A/C returned with 4% condition. The A/C is in GW2, MSN#5454, 1.9 year old, book value of 39M, market value of about 70-75M (in good condition)
Thanks to the last check done 10 months ago which was a C check, I have a 4% condition A/C with the bill of 63M to bring it back to good condition. I'm not sure if I want to revive it, or scrap it. And scrapping option is not even available, as
It must be either older than 10 years with any condition %, or older than 5 years and less than 40% condition
This problem won't happen if A/C can be retrieved when lessee fail to keep its above certain condition. It's pretty obvious that if lessee don't have money for maintenance for a long time, very slim chance he/she can avoid BK. So why not let brokers take their A/C back and give lessee better chance of recovering?