Yes, I could understand why a club might want to lease (charter) aircraft to free up capital, but the thing that puzzles me is that the aircraft still belong to the same company, so no capital has been released.
Bearing in mind that some schools have set up separate companies to 'own' the aircraft, so the major assets (ie aircraft) are inaccessible should the club fail, I am wondering if this is a permutation on the same theme. That is to say, the company retains ownership of the aircraft, but then sets up a subsidiary company to actually operate the school itself.
Thanks for the suggestion, but I confess that I am still rather puzzled!