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Most likely it is through someone sold them at a discounted price or he bought them from the used market with credit.
Yep. Depending on the variant of the 737, he could have bought two through a loan purchase. Horrible choice though, since he'll owe WAY more every week than he would if he leased it. That company won't go anywhere unless he has help.
Well something is not right here.
The company with two 737s is a sub of other holding which was set up on 24 April, the sub was set up on 26 April. So far neither of the two has flown a single passenger or transported one unit of cargo.
The holding has leased E90, which would require a deposit of 1.675 million AS$. Then, the sub has two owned aircraft, we do not know if they were bought on credit or by somebody selling on used market.
737C has a new value of 55 million and
738HGW scimitar costs 63 million. The smallest loan purchase enterprise contribution is 10% and that is 10% of 118 million AS$. This is 11.8 million plus 1.675 deposit on E90… The result is more than the initial 10 million AS$. There is also no way these two aircraft were bought on used market, because with listing markup they would cost more than 11.8 million even if the private seller offered them at 10%.
Now, there is a way the aircraft could have been bought on credit with a lower contribution than 11.8 million. One aircraft is 0.1 years old and other one is 0.0, both delivered in April 2016. Lets assume both aircraft were on used market for about 10 to 14 days and they reached the lowest price there can be on used market, or about 9.05 million AS$. And even of the E90 was also sourced at deep used market discount, it would cost at least 1.283 million in deposit, plus assigned seat config let’s say 0.1 million. To me, the numbers do not add up, however deep discount we want them.
One thing you have missed in your calculation: On the used market, the down payment for aircraft purchases on loan is the same as the leasing deposit, so two purchased 737 and one leased E-Jet is entirely possible. Expect bancruptcy next week though.
You are right, as I do not buy aircraft on loan on used market I did not realize that. So basically yes it could be done all with 10 million. But the whole structure of that company does not make any sense.
You are right, as I do not buy aircraft on loan on used market I did not realize that. So basically yes it could be done all with 10 million. But the whole structure of that company does not make any sense.
Maybe he is just a newbie, I did similar things as a newbie without knowing really how to play the game. I would not blame this guy for cheating.
Maybe he is just a newbie, I did similar things as a newbie without knowing really how to play the game. I would not blame this guy for cheating.
I did not say that. I said initially the numbers did not add up to me, but I mistakenly assumed a 10% enterprise contribution with loan also on the used market, which I then got corrected about.