英语论文网

re bought in cash or bank loan. However, since 1980’s, operating leasing has been more and more popular. Leasing company lease airplanes to airline, and after the contract is over, airline gives the airplanes to leasing company. In 1990’s operating leasing account for 22% in airplane market, but now it has grown to 40%. In Asia, Africa and Middle East, the airplanes that are bought through banking system are approximate 120 billion dollars. Obviously, operating leasing will have a great potential in this market.  

As for China, now China owns 850 airplanes and with China’s economy increase, lots of airplanes need to meet the strong market demand. In 2012, there are 25% of airplanes which belong to operating leasing. However, overall leasing companies are almost controlled Chinese airplane leasing market, behind the strong market demand. 

2.2.2.1 The Feathers of Operating Leasing

1. The time of operating leasing is not long.
2. The contract can be cancelled at anytime.
3. The rent is not paid off at one time. 

4. The rent is often expensive. 

2.2.2.2 Differences Between Financial Leasing and Operating Leasing

Financial lease can offer financial assets and make companies get expensive machinery when companies is lack of money. Therefore, financial leasing help companies avoid commercial risk and catch every opportunity. While, operating leasing provides assets to those companies that just need to use equipment, but don not intend to own it, especially the high technological equipment. 

2.2.3 Leveraged Lease

In a leasing transaction, if the equipment is owned totally by the lessor, this type of lease is called single-investor lease. If the lessor spent just a little money, and the banks offer loans, this is leveraged lease, or it is called third-party equity lease. The fund that is used to buy the assets comes from lessor and banks. Commonly, lessors just account for 20%-40% in the total rent, so in leveraged lease, there are at least three sides that are involved: loaner, lessor, lessee. According to law the lessor has the ownership of equipment, but the ownership of assets is pledged to the bank in order to get its loan. Leveraged lease has a great popularity in developed countries, for lessors can benefit from tax-cut.   

2.2.3.1 The Features of Leveraged Lease

1. There are at least three parties: a lessee, a lessor and lenders( debt holders). 

2. The lender is without the resource to the lessor. When the lessee is unable to pay or refusal to pay rent, the lender can only terminate the lease, and to compensated through the auction equipment, while not entitled to the lessor recourse.

2.2.3.2 The scope of Application of the Leveraged Lease 

This type of lease applies to large-scale, long-term and more than a few million dollars leasing, such as: aircraft, pipeline, offshore oil drilling platform and satellite system, etc. Recent years, leveraged lease has a great development, mainly in America, Japan, Australia and New Zealand.  

2.2.4 Leaseback

The equipmen本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。