I have a question on leasing. If I decide to cancel a lease, what are the cost associated with it? Such as, do I pay penalty, forfeit a week of leasing cost out of my deposit, or something else. Thanks!
when you cancel the lease, at the end of leasing period you get back your deposit, minus the leasing payment for the week.
if it's a cargo aircraft, it will cost nothing.. except if you decide to transfer or terminate the idling pilot
if it's a pax aircraft, you will lose the installed seats, it will show on depreciation of flight equipment in your income statement.
the value of the seats will be deducted from your balance sheet..