my view .....
I must say that I would be quite happy to capitalize major expenses ....
e.g. a major maintenance expense of say 480,000 dollars that is expected to cover an operating period of say 12 months is capitalized and 40,000 dollars charged to the P&L each month ...... if the remaining life of the aircraft was say only 6 months then the monthly charge to the P&L would of course be 80,000 dollars ....... Net Investment and return on investment will be negatively affected but the P&L will be much easier to judge
One thing that worries me about the Author of the article mentioned is his reference to "Rust Buckets" ...... I consider this to be an affront to all the National Regulatory Agencies and Pilots/Engineers that keep the aircraft flying ..... I shall say no more!