An agreement where JA Asset Based Leasing receives lease payments to cover its ownership cost. The customer is responsible for lease rents, maintenance, insurance and taxes. Finance leases will be based on aircraft hire purchase agreements.

According to the relevant Austrian law a finance lease is a lease which meets at least one of the following criteria:

• The term of lease is no longer than 75% of the asset’s useful life
• Ownership of the assets may be transferred to the lessee at the end of the lease in the event that all outstanding amounts are cleared
• The present value of the lease payments exceeds 90% of the total original cost of the aircraft