In case some of you are not aware of where the lease market is at.......
The three ex GO aircraft were signed up back in 1998. At that stage the lease rates were between $195K to $220 per month, presumably for 5 years. When EZY took over GO they would have had to take the over the leases as agreed. Now, assuming they were 5 year leases, EZY would have extended them for 6 months to take them to the end of a Summer, rather than have them expire at the beginning of a summer.This extension would have been at a discounted rate.
The current market rate is between $100K and $130K for aircraft of that vintage...and there are a few available. It would have been in the interests of the lease company to delay the return of these aircraft, as plainly they were getting a much better lease rate. The delay would centre around "return conditions", as defined by the original lease rate. EZY, on the other hand, would have to pay the lease rates until such time as the aircraft were met the return conditions , which could ( at the lease rates mentioned above) be a very expensive excercise.
Just a thought....should the title of this thread be changed again ?
p.s. Just nicked a copy of the Airfax document mentioned above. Looks like there are 39 737-300's available in the market at the moment.