While more conventional options may be available through Export Development Canada for financing Series 400 Twin Otter aircraft, businesses may be interested in alternative finance lease options available through Viking’s sister company, Longview Aviation Asset Management (LAAM). LAAM offers qualified operators excellent interest rates and flexible finance lease conditions for terms up to 10 years. LAAM also offers two maintenance programs to reduce the burden of reserve payments and still protect the asset value.
Under this scenario the Lessee will make reserve payments to cover upcoming major maintenance events on the aircraft such as engine, propeller and landing gear overhaul.
Rates are based on the operators anticipated annual aircraft utilization. Usage reports are submitted monthly and applied to the various parts of the aircraft covered under reserves. Viking holds the monthly reserve payments as asset value protection for the duration of the finance lease term. Reserves are returned to the operator after payment confirmation has been received from the applicable service provider, for example; Hot Section Inspection. All funds in the reserve account not consumed during the lease term are returned to the operator after receipt of the final lease payment and transfer of ownership.
Viking Maintenance+ Program
The M+ program provides the operator with budget predictability, a simplified ordering process and expedient parts logistics through a Viking-managed repair, overhaul, and replace system. Also included are technical publication subscriptions and maintenance tracking/planning tools.
Viking provides complete airframe, systems, propeller, and avionics support for the operator. Engines are covered by our partner, Pratt & Whitney.
Viking supplies all rotables required under an exchange program, and manages the entire rotable repair and overhaul activity, thus removing the burden of carrying staff to manage multiple component vendors and to ship/track high value inventory assets. Also joining M+ allows the operators to carry a reduced inventory and saves the finance group from significant investment in acquisition of spares to protect operational reliability.
Whether you choose an EDC loan, a finance lease or an operating lease, discuss your decision with a financial advisor who specializes in aviation asset procurement first.