How to cancel a lease and return the plane?

[LotusAirways]

Say I have leased an airplane for 10 years but after 5 I don't need it any longer. How to cancel a lease contract?
Tks

[Infinity]

Just click on the aircraft, and then under 'Manage Aircraft' you can select 'Terminate Lease'.
This will cost you 50% of all remaining lease payments immediately, so it is only advisable if you don't need the cash for anything more important. It will save money in the long run, but takes a hefty one-time investment, especially for smaller airlines.
Also note that you can only terminate a lease after 10% of it's scheduled duration has passed.

[BD]

Just click on the aircraft, and then under 'Manage Aircraft' you can select 'Terminate Lease'.
This will cost you 50% of all remaining lease payments immediately, so it is only advisable if you don't need the cash for anything more important. It will save money in the long run, but takes a hefty one-time investment, especially for smaller airlines.
Also note that you can only terminate a lease after 10% of it's scheduled duration has passed.

When I purchased an aircraft that I had leased new from the factory there was a premium also.  

Is it a similar calculation (i.e. aircraft value plus some percentage - 50%?? - of the remaining lease payments)?

[LotusAirways]

Thanks. So it is cheaper to buy and put it for sale (assuming I can find a buyer)?

[Mr.HP]

When I purchased an aircraft that I had leased new from the factory there was a premium also.  

Is it a similar calculation (i.e. aircraft value plus some percentage - 50%?? - of the remaining lease payments)?

Yes. Same calculation. You will have to pay 50% of the remaining leasing amount plus the value of the A/C to purchase it

So, if you're not sure, then don't make long lease

Thanks. So it is cheaper to buy and put it for sale (assuming I can find a buyer)?

Only if it is a popular model, you can lease out with as much as 40% premium