Originally Posted by
PoppaJo
Can the leasing companies say offer these Jets to Virgin?
Only if Rex were to default on their lease in such a fashion that repossession was triggered. Unremedied non-payment of rent is the typical 'termination event' that would lead to repossession.
Originally Posted by
PoppaJo
A use it or lose it sort of clause for Rex.
The leasing companies really couldn't give a tinker's cuss as to whether the lessee is using the aircraft or not so long as rent is being paid as it falls due
and asset value is being maintained. Non-use wouldn't be an event of default in of itself; non-use
and failure to properly maintain the aircraft per the manufacture's calendar-based schedules and/or preservation guidance most certainly would be.